DGAP-News: SHW AG / Key word(s): Change of Personnel

2016-08-31 / 07:25
The issuer is solely responsible for the content of this announcement.


PRESS RELEASE

SHW AG: Martin Simon appointed as Chief Financial Officer

- Financial expert from the automotive supplier industry with long-standing experience abroad

- Management team in a strong position

Aalen, 31 August 2016. The Supervisory Board of SHW AG, one of the leading automotive suppliers of CO2-relevant pumps and engine components as well as composite brake discs, has appointed Mr Martin Simon as Chief Financial Officer with effect from 1 September 2016. Mr Simon started his professional career in 1995 at a well-known accountancy firm and has worked in managerial positions for companies in the construction supplier, packaging and automotive supplier industries since 1999. Mr Simon's most recent role was as Chief Financial Officer and a Member of the Management Board of the NHBX Trim Group, a leading global automotive supplier in the field of innovative surfaces for the interiors of premium vehicles. There he was in charge of the areas of Finance and Controlling, Treasury, Legal and Insurance, IT, Purchasing and Human Resources.

Mr Simon has a degree in business administration. He studied at the Julius-Maximilians-Universit├Ąt in W├╝rzburg and the University of Wales in Swansea.

"We are convinced that Mr Simon, together with his Management Board colleagues, will successfully implement the "SHW 2020" strategy. Mr Simon will be able to draw here in particular on his solid knowledge of the automotive supplier industry and his long-standing experience in European markets outside Germany, the USA and China," says Georg Wolf, Chairman of the Supervisory Board of SHW AG.

Dr Boshoff, Chief Executive Officer of SHW AG, adds: "The addition of Mr Simon to our management team means that we are now in an ideal position to continue developing the SHW Group into a globally positioned automotive supplier of pumps and engine components."

As Chief Financial Officer of SHW AG and a Member of the Management Board of SHW Automotive GmbH, Mr Simon will be in charge of the areas of Central Accounting, Finance, Controlling, IT, Legal, Investor Relations and Corporate Communications.

More information about the Company is available at www.shw.de. Press photos can be found at http://www.shw.de/cms/en/press/press_pictures/.

About SHW

The Company was established in 1365 making it one of the oldest industrial companies in Germany. Today, SHW AG is a leading automotive supplier providing products that make a substantial contribution to reducing fuel consumption and, consequently, to lowering CO2 emissions. In its Pumps and Engine Components business segment, the SHW Group develops and produces pumps for passenger vehicles and industry applications (e.g., trucks, agricultural and construction vehicles, stationary engines and wind farms) as well as engine components. The Brake Discs business segment develops and produces monobloc ventilated brake discs made of cast iron and composite brake discs made of a combination of an iron friction ring and an aluminium pot. The SHW Group's customers include renowned automotive manufacturers, manufacturers of commercial, agricultural, and construction vehicles as well as other suppliers to the automotive industry. Currently, the SHW Group has four production sites in Germany located in Bad Schussenried, Aalen-Wasseralfingen, Tuttlingen-Ludwigstal and Neuhausen ob Eck, one site in Brazil (Sao Paulo) and China (Kunshan) and has a sales and development centre in Toronto, Canada. Besides, SHW Automotive GmbH also holds a 51 per cent interest in the joint venture SHW Longji Brake Discs (LongKou) Co., Ltd., in LongKou, China. With just over 1,250 employees, the Company generated Group sales in fiscal year 2015 of EUR 463 million. Further information is available at: www.shw.de

Contact person

Michael Schickling

Head of Investor Relations & Corporate Communications

SHW AG

Telephone: +49 (0) 7361 502 462

Email: michael.schickling@shw.de

Future-oriented statements

This press release contains certain future-oriented statements that are based on current assumptions and forecasts made by the management of SHW AG. Various known and unknown risks, uncertainties and other factors may lead to the actual results, financial position, development or performance of the company deviating considerably from the appraisals specified here. The company assumes no obligation to update future-oriented statements of this nature or adapt them to future events or developments.

Note

This announcement is for information purposes only and does neither constitute an offer to sell, purchase, exchange or transfer any securities nor a solicitation of any offer to sell, purchase, exchange or transfer any securities.

The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") and may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. SHW AG does not intend to register any securities referred to herein under the Securities Act or with any securities regulatory authority of any state or other jurisdiction in the United States in connection with this announcement.



2016-08-31 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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