In December 2022, the Supervisory Board of Progress-Werk Oberkirch AG had offered Dr. Cornelia Ballwießer, member of the Executive Board and CFO of PWO AG since November 1, 2020, to extend her contract, which expires on October 31, 2023, by 5 years. At the end of January 2023, Dr. Ballwießer informed the Supervisory Board that she did not wish to renew her contract for private reasons and would like to terminate it early by mutual agreement if possible, in order to be able to take up a position in the Munich area in the future. On April 5, 2023, the Supervisory Board unanimously decided to comply with Dr. Ballwießer's request to resign from her position as of June 30, 2023, and to terminate her employment contract by mutual agreement as of the same date.

By unanimous resolution on the same day, the Supervisory Board of PWO AG appointed Dipl.-Kfm. Jochen Lischer, authorized signatory and Head of Finance and Controlling at PWO AG, to succeed Dr. Ballwießer as a member of the Executive Board and CFO of PWO AG with effect from July 1, 2023 until June 30, 2026.