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    LEO   DE0005408884

LEONI AG

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LEONI : Ingrid Jšgering not to extend her contract expiring end of 2022

08/19/2021 | 04:44am EDT
Ingrid Jägering not to extend her contract expiring end of 2022 Chief Financial Officer has made a significant contribution to stabilising Leoni

Nuremberg, 19 August 2020 - Ingrid Jägering, Chief Financial Officer and Labour Director of Leoni AG, informed the Supervisory Board that she will not be available to the company after the expiration of her current contract running until 31 December 2022. She will join a German family-owned company and global market leader as Chief Financial Officer.

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The Supervisory Board has noticed Ingrid Jägering's decision with regret. At the same time, the Board has already initiated the necessary steps to appoint a successor to her position on the Board of Directors.

'As Chief Financial Officer, Ingrid Jägering has navigated Leoni through an extraordinarily turbulent phase and, together with Chief Executive Officer Aldo Kamper, has initiated the required measures to lead the company back to sustainable and stable success. I would like to express my gratitude for her exceptional commitment. I respect her decision and her plans for her career and private life,' said Dr. Klaus Probst, Chairman of the Supervisory Board of Leoni AG.

'VALUE 21 programme is beginning to bear fruit'

Ingrid Jägering also emphasised the recent successes: 'Over the past two years, we have managed to stabilise Leoni in a uniquely challenging environment. Our performance and strategy programme VALUE 21 as well as the restructuring measures are beginning to bear fruit. Together with Aldo Kamper, all of us at Leoni have fought hard for the company's recovery. Transparency and clarity are part of our culture of success.'

Jägering stressed another point that is particularly important to her: 'In light of the important progress we have made and the positive development in the past quarters, I have not made a decision against Leoni, but a decision for a new opportunity. I had the chance to take on an exciting role with a globally operating German family business. And even though I know will be leaving Leoni: I'm not done yet! Rest assured that I will continue to support all initiatives and projects with the same dedication and commitment. We have ambitious plans for the coming months.'

Ingrid Jägering, together with Aldo Kamper, has led Leoni through the challenges of the Covid-19 pandemic and initiated important measures to stabilise the business development and improve Leoni's performance and efficiency. Until her departure, she will continue to support the consistent implementation of all measures to further stabilise the company and to initiate the necessary steps for the upcoming refinancing of the company. With the early announcement of Ingrid Jägering's departure, Leoni has created ideal conditions for a structured process to appoint her successor and a seamless transition between Ingrid Jägering and her successor.

Disclaimer

Leoni AG published this content on 19 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 August 2021 08:43:03 UTC.


© Publicnow 2021
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Financials
Sales 2021 5 050 M 5 889 M 5 889 M
Net income 2021 25,1 M 29,3 M 29,3 M
Net Debt 2021 1 585 M 1 848 M 1 848 M
P/E ratio 2021 17,0x
Yield 2021 -
Capitalization 425 M 494 M 496 M
EV / Sales 2021 0,40x
EV / Sales 2022 0,38x
Nbr of Employees 101 734
Free-Float 78,5%
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Mean consensus SELL
Number of Analysts 5
Last Close Price 13,02 €
Average target price 10,40 €
Spread / Average Target -20,1%
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Managers and Directors
Aldo Kamper President & Chief Executive Officer
Ingrid Jšgering Chief Financial Officer
Klaus Probst Chairman-Supervisory Board
Franz SpieŖ First Deputy Chairman-Supervisory Board
Karl-Heinz Lach Member-Supervisory Board
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