DGAP-News: SHW AG / Key word(s): Change of Personnel
Aalen, 7 June 2018. Effective 12 June 2018 Mr. Wolfgang Plasser will become the new Chief Executive Officer of SHW AG. He takes over this office from Dr.-Ing. Frank Boshoff, who will step down with effect from the end of 12 June 2018 by mutual agreement with the Supervisory Board. The decision has been resolved today by the Supervisory Board of the Company.
Mr. Plasser has been a member of the Management Board of Pankl Racing Systems AG, Kapfenberg, Austria, since 2004 and its CEO since 2006. Pankl Racing Systems AG operates in the fields of engine and powertrain systems as well as lightweight construction.
Mr. Plasser will take up his new position as CEO of SHW AG in addition to his current operating position as CEO of Pankl Racing Systems AG. Mr. Plasser resigned today from his position on the Supervisory Board of SHW AG, to which he was recently elected by the Annual General Meeting of the Company on 8 May 2018.
Klaus Rinnerberger, the Chairman of the Supervisory Board of SHW AG says: "Wolfgang Plasser brings with him extensive operating management experience in the automotive supplier industry. The Supervisory Board is convinced that, with Mr. Plasser at the top, supported by his colleagues on the Management Board, SHW is in an excellent position to drive forward the growth strategy of the company and make the company fit to face the challenges of the coming paradigm shift in the automobile and automotive supplier industries."
Klaus Rinnerberger emphasises: "In his time as the Chief Executive Officer, Dr. Frank Boshoff improved the processes of the Pumps and Engine Components business segment sustainably with an Operational Excellence (OpEx) programme and was successful at driving forward the internationalisation of pump activities. The Company is immensely grateful to him for this contribution. We wish him all the best for the future, both professionally and privately."
"It was a great pleasure to have set the course for SHW over the last three years to ensure its successful future," explains Dr. Frank Boshoff. "I would like to expressly thank the Supervisory Board, all employees and our external business partners for their support and cooperation, which was exemplary at all times, and the trust placed in me."
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 cars (including circuit boards) and Truck & Off-Highway applications (e.g., trucks, agricultural and construction machinery, 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 lightweight composite brake discs made of a combination of an iron friction ring and an aluminium pot. The SHW Group's customers include renowned automobile manufacturers, manufacturers of commercial, agricultural and construction vehicles as well as other suppliers to the automotive industry. Currently, the SHW Group has five production sites in Germany located in Bad Schussenried, Aalen-Wasseralfingen, Hermsdorf, Tuttlingen-Ludwigstal and Neuhausen ob Eck, sites in Brazil (São Paulo) and China (Kunshan) and a sales and development centre in Toronto (Canada). With about 1.350 employees on average, the Company achieved Group sales of slightly above EUR 400 million in the fiscal year 2017. Further information is available at www.shw.de
Head of Investor Relations & Corporate Communications
Telephone: +49 0 7361 502 462
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.
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.
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|End of News||DGAP News Service|