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GRAMMER AG (FRA:GMM) Grammer AG appointing Manfred Pretscher as new interim CEO and Jens Öhlenschläger as new member of the Executive Board

Directive transparence : information réglementée

20/12/2018 16:18

DGAP-News: Grammer AG / Key word(s): Change of Personnel
Grammer AG appointing Manfred Pretscher as new interim CEO and Jens Öhlenschläger as new member of the Executive Board

20.12.2018 / 16:18
The issuer is solely responsible for the content of this announcement.


Grammer AG appointing Manfred Pretscher as new interim CEO and Jens Öhlenschläger as new member of the Executive Board

- The member of the Executive Board Manfred Pretscher appointed interim CEO and interim CFO

- Jens Öhlenschläger appointed as new member of the Executive Board as Chief Operating Officer

- Search for long-term candidates for Executive Board vacancies proceeding according to plan

Amberg, December 20, 2018 - Automotive supplier Grammer AG is reporting first decisions concerning new appointments to its Executive Board. The previous Chief Operating Officer (COO) Manfred Pretscher will be assuming the position of Chief Executive Officer on an interim basis from January 1, 2019. Likewise, he will be acting as interim Chief Financial Officer until the candidate for this position has been found. He will thus be following CEO Hartmut Müller and CFO Gérard Cordonnier, who will be stepping down from their positions at the end of the year.

Continuity and smooth transition guaranteed
The appointment of Manfred Pretscher as interim CEO safeguards the continuity of Grammer's management and strategy during the transitional phase and the search for long-term candidates for the vacancies on the Executive Board. Manfred Pretscher has also announced his early departure, but will remain with the Company until the end of June 2019 to ensure a smooth transition.

"The Supervisory Board is pleased to have found a solution with Manfred Pretscher that will ensure a smooth handover to the new members of the Executive Board. Mr. Pretscher has been a member of Grammer AG's Executive Board since 2010 and will now remain with the Company as an interim CEO and interim CFO," explains Dr. Klaus Probst, Chairman of Grammer AG's Supervisory Board.

New COO Jens Öhlenschläger appointed
An experienced candidate from within the Grammer Group has been found for the position of Chief Operating Officer (COO). The new COO will be Jens Öhlenschläger, who can look back on many years of international experience in various positions in the automotive components industry. A graduate engineer, he has been with the Grammer Group since 2015, where he is responsible for the Division Consoles and Armrests, which develops and produces high quality center consoles.

"By appointing Jens Öhlenschläger, we are underscoring the importance of product and process skills within the Company. The Supervisory Board is pleased to have been able to recruit an outstanding executive within the Group for the position of Chief Operating Officer. The new Executive Board will drive Grammer's success forward and ensure the effective integration of US subsidiary TMD," added Dr. Probst.

Jens Öhlenschläger will be commencing his new duties on January 1, 2019 and receiving a contract for an initial period of three years.

 

Company profile

Located in Amberg, Germany, Grammer AG specializes in the development and production of components and systems for automotive interiors as well as suspended driver and passenger seats for onroad and offroad vehicles.
In the Automotive Division, we supply headrests, armrests, center console systems, high-quality interior components, operating systems and innovative thermo-plastic solutions to premium automakers and automotive system suppliers.
The Commercial Vehicles Division comprises seats for the truck and offroad seat segments (tractors, construction machinery, forklifts) as well as train and bus seats.
With round about 15,000 employees, Grammer operates in 19 countries around the world. Grammer shares are listed in the Prime Standard and traded on the Frankfurt and Munich stock exchanges via the electronic trading system Xetra.




Contact:
GRAMMER AG
Ralf Hoppe
Phone: 0049 9621 66 2200
investor-relations@grammer.com


20.12.2018 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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Language: English
Company: Grammer AG
Georg-Grammer-Str. 2
92224 Amberg
Germany
Phone: +49 (0)9621 66-0
Fax: +49 (0)9621 66-1000
E-mail: investor-relations@grammer.com
Internet: www.grammer.com
ISIN: DE0005895403, DE0005895403
WKN: 589540, 589540
Listed: Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Stuttgart, Tradegate Exchange

 
End of News DGAP News Service

761059  20.12.2018 

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