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

23.11.2018 / 12:53
The issuer is solely responsible for the content of this announcement.




Aalen, 23 November 2018. The Supervisory Board of SHW AG, one of the leading automotive suppliers of CO2-relevant pumps and engine components as well as lightweight composite brake discs, today appointed Mr. Thomas Karazmann as its Chief Financial Officer (CFO) effective 1 December 2018. He will take over this office from Mr. Martin Simon, who will step down from the Management Board with effect from the end of 30 November 2018 by mutual agreement with the Supervisory Board.

"As the CFO, Martin Simon has made a sustainable improvement to the processes in finance and, in particular, put the financing of the company on a very solid footing," says Klaus Rinnerberger, Chairman of the Supervisory Board of SHW AG. "I wish him all the best for the future, both professionally and privately."

Mr. Karazmann started his professional career in finance in 1993 and, from 1998, was employed in key functions at two international tech firms. Most recently, Mr. Karazmann acted as the CFO of VAMED AG, one of the world's leading full-range providers of facilities for the healthcare sector.

As Chief Financial Officer of SHW AG and a Member of the Management Board of SHW Automotive GmbH, Mr Karazmann will be in charge of Central Accounting, Finance, Controlling, IT, Legal, Personnel, Investor Relations and Corporate Communications. He will take up his new position as the CFO of SHW AG in addition to his new position as the CFO of Pankl Racing Systems AG.

"We are convinced that Mr. Karazmann, together with his colleagues on the Management Board, will master the transformation of SHW AG into a global automotive supplier and the challenges arising from new powertrain concepts successfully," says Klaus Rinnerberger.



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 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


Michael Schickling

Head of Investor Relations & Corporate Communications


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.


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.

23.11.2018 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.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

show this