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Stabilus S.A.: Dr. Michael Büchsner named new Chief Executive Officer

DGAP-News: Stabilus S.A. / Key word(s): Personnel

26.03.2019 / 18:53
The issuer is solely responsible for the content of this announcement.



CORPORATE NEWS

Stabilus S.A.: Dr. Michael Büchsner named new Chief Executive Officer

- Appointment of Dr. Michael Büchsner to the position of CEO likely to take effect in the course of the third quarter of the 2019 calendar year

- Dr. Stephan Kessel to rejoin the supervisory board after acting as interim CEO

- Upon Dr. Stephan Kessel's return to the supervisory board, Udo Stark shall, as previously announced, step down from the body

Luxembourg/Koblenz, March 26, 2019 - The supervisory board of Stabilus, one of the world's leading providers of gas springs, damping solutions and electromechanical drives for motion control, today held an extraordinary meeting at which it named Dr. Michael Büchsner (44) as the company's new Chief Executive Officer. It is anticipated that Michael Büchsner will take up his position as CEO in the course of the third quarter of the 2019 calendar year, and by October 1, 2019 at the very latest.

Dr. Michael Büchsner boasts several years of experience in the automotive components supplier industry. Over the past 20 years, he held a number of senior positions at components supplier TRW in Austria, Germany and the USA, and, following its takeover of TRW, at ZF Friedrichshafen AG. Austrian by birth, he is currently global head of the Passive Safety Systems division, which generates revenues of approx. 4 billion Euro per year and has 40.000 employees. Forming the main focus of his activities in the division are strategy, finances, investments, and customer relations. Dr. Michael Büchsner holds a degree in chemical engineering from the Technical University of Graz, at which he later completed a doctorate, and an Executive MBA awarded by the St. Gallen Institute.

Dr. Büchsner will thus succeed Dr. Stephan Kessel, who on August 1, 2018 vacated his seat on the supervisory board in order to take up the position of interim CEO. Dr. Stephan Kessel will rejoin the supervisory board on July 31, 2019, Luxembourg law prescribing that a supervisory board seat may be dormant for a maximum period of one year. The supervisory board mandate of the current Chairman, Udo Stark, shall, as previously announced, end once Stephan Kessel rejoins the supervisory board.

Udo Stark, Chairman of the Stabilus S.A. supervisory board, stated: "Many years of international industrial experience make Dr. Michael Büchsner the ideal candidate to lead Stabilus S.A. into the coming decade. The automotive sector, in which he has now worked for more than 20 years, is one of the most demanding industries in terms of quality, reliability, and innovation. We are therefore convinced that with his skills, Dr. Büchsner will also be uniquely capable to further develop Stabilus' industrial business."

Dr. Michael Büchsner said: "Stabilus is a high-growth company which, since its foundation 85 years ago, has been known for its countless innovations and commitment to high quality, giving it an outstanding positioning inside the automotive industry and in many other sectors such as agriculture, transportation and medical technology as well as renewable energies. Additionally, the company has formulated a compelling corporate strategy in the shape of STAR 2025. I look forward to taking on the exciting task of further pursuing this strategy together with the international management team and the Stabilus workforce in order to realize the company's full potential."

Investor contact:
Andreas Schröder
Tel.: +352 286 770 21
E-Mail: anschroeder@stabilus.com

Press contact:
Tobias Eberle / Peter Steiner
Tel.: +49 69 794090 -24 / -27
E-Mail: Tobias.Eberle@charlesbarker.de /
Peter.Steiner@charlesbarker.de
Charles Barker Corporate Communications

About Stabilus

As one of the world's leading suppliers of gas springs, damping solutions and electromechanical drives, Stabilus has for eight decades been demonstrating its expertise in the automotive industry and a variety of other sectors. Gas springs, dampers and electromechanical POWERISE drives from Stabilus optimize opening, closing, lifting, lowering and adjusting operations, and also protect against vibrations. Employing a workforce of more than six thousand worldwide, the company has its operational headquarters in Koblenz. Stabilus has reported sales revenues of EUR 962.6 million in the 2018 fiscal year. Stabilus has a global production network encompassing plants in nine countries. Additionally, the Group maintains regional offices and relations to sales partners in over fifty countries in Europe, North, Central and South America, and in Asia Pacific. Stabilus is listed in the Prime Standard segment of the Frankfurt Stock Exchange and included in the SDAX index.

Important Notice

This press release may contain forward-looking statements based on current assumptions and forecasts made by Stabilus Group management and other information currently available to Stabilus. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here.



26.03.2019 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.

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