Schaltbau : Changes in the Management Board of Schaltbau Holding AG

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• Dr. Jürgen Brandes, current Group CEO of Schaltbau Holding AG, will step down from his position on the Executive Board effective November 30, 2023
• Wilko Stark, previously a member of the Supervisory Board of Schaltbau Holding AG, will be temporarily appointed to the Management Board of Holding AG from December 1, 2023 and will assume the Group CEO function on an interim basis
• Steffen Munz will take on the role of Group CEO after the upcoming Annual General Meeting in addition to his duties as Group CFO of Schaltbau Holding AG

The Supervisory Board of Schaltbau Holding AG has temporarily appointed Wilko Stark, previously a member of the Supervisory Board, to the Executive Board of Schaltbau Holding AG as of December 1, 2023. Wilko Stark will assume the role of Group CEO on an interim basis. Dr. Jürgen Brandes, former Group CEO of Schaltbau Holding AG, will step down from his position by mutual agreement on November 30, 2023.

After the upcoming Annual General Meeting, Steffen Munz will assume the role of Group CEO in addition to his duties as Group CFO of Schaltbau Holding AG. The Management Board of Schaltbau Holding AG is to be reduced to one person on the basis of an amendment to the Articles of Association to be adopted by the next Annual General Meeting of Schaltbau Holding AG. This was announced today by Schaltbau Holding AG.

Jürgen Brandes will move into the role of a consultant to the Schaltbau Group and will continue to assume various supervisory board functions within the Schaltbau GmbH Group (e.g. Chairman Joint Venture Xi'an Schaltbau). Jürgen Brandes has been a member of the Executive Board of Schaltbau Holding AG since March 1, 2020 and Chairman of the Executive Board of Schaltbau Holding AG since January 1, 2021. With a significant increase in sales and earnings since the takeover by Carlyle in October 2021, the Schaltbau Group is on a sustainably profitable growth path.
"The Schaltbau Group is a great company that holds a market-leading position in its respective segments," said Jürgen Brandes. "The company is now in a stronger position than ever before and is profitably growing. I am grateful to the entire Schaltbau team for their excellent work and would also like to thank Carlyle for their support in implementing the growth and investment strategy. As a consultant, I will continue to actively support the implementation of the strategy with a focus on innovation and technology. I will also continue to hold various supervisory board functions within the Schaltbau GmbH Group."
"On behalf of the Supervisory Board, I would like to express my gratitude to Jürgen Brandes for his extensive contribution to the success of the Schaltbau Group," said Dr. Friedel Drees, Chairman of the Supervisory Board of Schaltbau Holding AG. "Jürgen Brandes' leadership has been instrumental in the Group's profitable growth, including building an outstanding management team and strengthening the competitive position of each segment within the Group. He has built a strong foundation for further growth and we are pleased that he will remain closely associated with the company as an advisor."
Wilko Stark, previously a member of the Supervisory Board of Schaltbau Holding AG, will be temporarily appointed to the Executive Board of Schaltbau Holding AG with effect from December 1, 2023 and will assume the Group CEO function on an interim basis. Wilko Stark will return to the Supervisory Board of Schaltbau Holding AG after the upcoming Annual General Meeting.

Steffen Munz, Group CFO of Schaltbau Holding AG, will take on the role of Group CEO after the next Annual General Meeting in addition to his duties as Group CFO. The Management Board of Schaltbau Holding AG is to be reduced to one person on the basis of an amendment to the Articles of Association to be adopted by the next Annual General Meeting of Schaltbau Holding AG. This will further strengthen the independent strategic and operational development of the three management companies Schaltbau GmbH, Bode and Pintsch.

About Schaltbau Holding AG
Schaltbau Holding AG is an internationally leading supplier of systems and components in the field of transportation technology and the capital goods industry. With Pintsch, Bode and Schaltbau as their core brands, Schaltbau Holding companies develop a wide range of high-quality technologies and customer-specific technological solutions for rail infrastructure, rolling stock, passenger cars and commercial vehicles. As one of the few specialists for smart DC-based energy concepts, Schaltbau is also a driver of innovation in the fast-growing markets of tomorrow such as New Energy, New Industry and e-Mobility.

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