Stabilus S.A.: Stefan Bauerreis to become the Group's new Chief Financial Officer, succeeding Mark Wilhelms in June 2022

CORPORATE NEWS

Stabilus S.A.: Stefan Bauerreis to become the Group's new Chief Financial Officer, succeeding Mark Wilhelms in June 2022

- Stefan Bauerreis appointed as Chief Financial Officer effective June 1, 2022

- CFO Mark Wilhelms will not extend his contract and is therefore resigning as of September 30, 2022

Luxembourg/Koblenz, December 20, 2021 - The Supervisory Board of Stabilus, one of the world's leading suppliers of gas springs, damping solutions and electromechanical drives for motion control, has appointed Stefan Bauerreis (48) as Chief Financial Officer effective June 1, 2022. In a timely manner, Stabilus has thus arranged the succession of the long-standing CFO Mark Wilhelms (61), who will resign from his mandate at the end of his contract after more than ten years in this function.

Stefan Bauerreis has many years of experience in the automotive supplier sector and in industry. Over the past 21 years, he has held various management positions within the Schaeffler Group in Herzogenaurach/Germany. Since 2014, he has been regional CFO with responsibility for the financial department of Europe incl. Africa and the Arab countries as well as India until 2019. Prior to this, he was CFO of the Germany region for a total of six years. From 2003 to 2009, Mr. Bauerreis was as Head of Corporate Accounting also Chief Accountant of the Schaeffler Group and thus also has extensive experience in central functions. He started his career in 1998 at Mannesmann Internal Audit GmbH, where he supervised international auditing and consulting projects. Stefan Bauerreis holds a degree in Business Administration from the University of Bamberg with a focus on finance, corporate management and controlling as well as corporate taxation and auditing.

Dr. Stephan Kessel, Chairman of the Supervisory Board of Stabilus S.A., said: "With the appointment of Stefan Bauerreis, we have gained a proven financial expert for Stabilus who is also at home in the automotive and industrial sectors. We are glad to have him on board in time for the next fiscal year and strongly believe that in him we have found the ideal successor to our highly esteemed colleague Mark Wilhelms. We regret but respect Mark Wilhelms' decision not to extend his contract, which expires at the end of September next year. We would like to take this occasion to thank him for the excellent cooperation in recent years, while he has decisively shaped the development of Stabilus under favorable and challenging conditions for a whole decade."

Stefan Bauerreis, said: "Stabilus is an innovative and fast-growing listed company that enjoys an excellent reputation in the market. I am already looking forward to working with my colleagues on the Management Board and with the entire Stabilus team. I am confident that my experience will enable me to make a valuable contribution towards achieving the company's goals."

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

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

About Stabilus

Stabilus is one of the world's leading suppliers of motion control solutions for a wide range of industries such as mobility, healthcare, leisure, furniture, energy, construction, industrial machinery and automation. Based on more than eight decades of experience, Stabilus offers reliable and innovative solutions that enable, improve or automate opening, closing, lifting, lowering and adjusting operations. The damping and vibration isolation technologies developed by Stabilus can be individually tailored to the needs of customers and offer protection against shocks, vibrations and noise. Headquartered in Koblenz, Germany, the group has an international network of production facilities in eleven countries with more than six thousand employees worldwide and reported revenue of €937.7 million in the 2021 fiscal year. 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 S.A. 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.