Vossloh Aktiengesellschaft: Replacement of the Executive Board of Vossloh Group - current Chief Financial Officer (CFO), Mr. Oliver Schuster, becomes new Chairman of the Executive Board (CEO)
September 16, 2019 at 12:15 pm EDT
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DGAP-Ad-hoc: Vossloh Aktiengesellschaft / Key word(s): Personnel
Vossloh Aktiengesellschaft: Replacement of the Executive Board of Vossloh Group - current Chief Financial Officer (CFO), Mr. Oliver Schuster, becomes new Chairman of the Executive Board (CEO)
16-Sep-2019 / 18:12 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
At its meeting today, the Supervisory Board of Vossloh AG has appointed the current Chief Financial Officer (CFO), Mr. Oliver Schuster, as new Chairman of the Executive Board (CEO) with effect as of October 1, 2019 and as member of the Executive Board for further five years until February 28, 2025. Mr. Schuster's responsibility for Vossloh's finance department remains unaffected. In addition, Mr. Dr. Karl Martin Runge has been appointed to the Executive Board for a three-year term effective October 1, 2019. He will, in particular, be responsible for the departments Sales and Technology. The previous precise allocation of responsibilities in relation to the different divisions to specific members of the Executive Board has been omitted. The Executive Board members manage the operating units jointly. Furthermore, the Supervisory Board and the Executive Board members, Mr. Andreas Busemann and Mr. Volker Schenk, have mutually agreed today that their appointments expiring on March 31 and April 30, 2020, respectively, will not be extended and that both Executive Board members will resign from office as of September 30, 2019. Vossloh AG will in future be managed by two Executive Board members. This streamlining of the top management reflects Vossloh's concentration on its core business rail infrastructure. The Supervisory Board thanks Mr. Andreas Busemann and Mr. Volker Schenk for their work and contributions to the Vossloh Group.
Contact:
Vossloh Aktiengesellschaft
Investor Relations
Dr. Daniel Gavranovic
Phone: +49-2392-52-609
Mail: Investor.relations@vossloh.com
16-Sep-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
Language:
English
Company:
Vossloh Aktiengesellschaft
Vosslohstr. 4
58791 Werdohl
Germany
Phone:
+49 (0)2392 52 - 359
Fax:
+49 (0)2392 52 - 219
E-mail:
investor.relations@vossloh.com
Internet:
www.vossloh.com
ISIN:
DE0007667107
WKN:
766710
Listed:
Regulated Market in Dusseldorf, Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
Vossloh AG is a Germany-based rail infrastructure company. The Company operates through three segments: The Core Components segment includes the Vossloh Fastening Systems division for all areas of application worldwide, from heavy-haul to high-speed rail lines and urban transport. The Customized Modules segment comprises the Vossloh Switch Systems division which covers a wide range of applications, extending from light-rail to high-speed applications. The Lifecycle Solutions segment concentrates on specialist services for the maintenance of rails and switches. The service portfolio mainly includes maintenance, grinding and milling for the corrective and preventive care of rails and switches, welding services and rail and switch logistics.
Vossloh Aktiengesellschaft: Replacement of the Executive Board of Vossloh Group - current Chief Financial Officer (CFO), Mr. Oliver Schuster, becomes new Chairman of the Executive Board (CEO)