Wittur Holding GmbH: Walter Rohregger resigns as Wittur Group CEO
Donnerstag, 25.02.2016 11:05 von DGAP
DGAP-News: Wittur Holding GmbH / Key word(s): Change of Personnel
Wittur Holding GmbH: Walter Rohregger resigns as Wittur Group CEO
25.02.2016 / 11:00
The issuer is solely responsible for the content of this announcement.
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PRESS RELEASE
ISIN: XS1188024548, XS1188025438
Walter Rohregger resigns as Wittur Group CEO
- Search for a successor already initiated
- Interim CEO Office in place
- Completion of Sematic Group acquisition remains well on track, closing
set for April 1, 2016
Wiedenzhausen, Germany, February 25, 2016 - The Wittur Group (ISIN:
XS1188024548, XS1188025438) announced today that with the imminent
finalization of the Sematic transaction, CEO Walter Rohregger has decided
in close coordination with the Supervisory Board to resign from his current
role to pursue other opportunities. The Group's Supervisory Board has
already initiated the search for a successor of Mr. Rohregger who will stay
affiliated with the Group in advisory role. In the meantime, a CEO Office
has been appointed to ensure operational continuity and a smooth
integration of the Sematic Group.
Mr. Rohregger commented: "I look back on a very satisfying time as CEO of
the Wittur Group. Wittur aims at being the leading global manufacturer of
components, modules and complete systems for the elevator industry. I am
proud to say that, together with my team, I have been successful in
executing this strategy which culminated in the transformational
acquisition of Sematic in mid-2015. The transaction follows a strong
strategic rationale and leaves Wittur better positioned for its future
development than ever before. With the closing of the deal due in only a
few weeks, it is now the right time for me to hand over responsibility to a
new management team that will oversee the integration phase as well as
Wittur's success story going forward."
The Supervisory Board of Wittur Group accepted Mr. Rohregger's decision and
emphasized that the Group highly appreciated the managers' valuable
contribution to the company's success in the past.
Michael Siefke, Chairman of the Wittur Group's Supervisory Board,
commented: "We would like to thank Walter for his efforts and dedication
over the past four years. Walter has done an excellent job in aligning the
company's strategic direction and shaping operational excellence. By
pushing forward the acquisition of Sematic, he clearly demonstrated
enormous foresight and laid the basis for Wittur to become a truly global
player in the industry. Although we regret Walter's decision, we can
understand that after four very demanding years he wants try something
completely new. We appreciate all the more that he will stay closely
affiliated with the Group in an advisory role."
Mr. Rohregger's decision to resign effective March 7, 2016, follows another
record year for Wittur with a preliminary unaudited consolidated Group
revenue in 2015 of around Euro 588 million and continued strong EBITDA
performance. These results give evidence to the successful implementation
of the Group's growth strategy and underline the resilience of its business
model.
The Supervisory Board has already initiated the search for a new CEO,
thereby taking the necessary time to identify the best candidate to address
Wittur's expansion and growth strategy going forward. In the meantime, a
CEO Office has been appointed to ensure maximum operational continuity and
a smooth integration of the Sematic Group throughout the senior management
transition. Mr. Frank Schulkes, Wittur Group's new CFO, and Mr. Sergio
Biglino, Wittur's Executive Vice President for Asia Pacific, Marketing, and
Key Accounts Management, and a subset of senior managers will jointly lead
the CEO Office, until the Group's Supervisory Board has completed the
appointment of Mr. Rohregger's successor.
Before joining the Group on February 22, 2016, Mr. Schulkes worked for
General Electric for over 25 years and served as Chief Financial Officer
and Executive Vice President at GE Healthcare, a division of General
Electric Co. USA, for eight years. GE Healthcare is a global leader in
medical technologies, life sciences and services, which generates USD 18+
billion in orders and employs over 50,000 people worldwide.
Sergio Biglino, Executive Vice President for Asia Pacific, Marketing, and
Key Accounts Management, is a highly experienced executive with a deep
knowledge of the industry and long-standing relationships with Wittur's
global customers. He joined Wittur 12 years ago, became a member of the
Executive Management Team one year later and took over responsibility for
Group Sales & Marketing in 2009. He then went on to take full regional
responsibility for Asia Pacific in 2011.
As already announced, completion of the Sematic acquisition is well on
track. In accordance with the agreement, the parties have agreed to set the
date for the closing of the transaction for April 1, 2016.
Investor Relations Contact Yara Kes
Wittur Holding GmbH Rohrbachstraße 26‐30
85259 Wiedenzhausen | Germany
Phone: +49(81 34) 18 ‐ 173
Mail: yara.kes@wittur.com
About the Wittur Group
Wittur is one of the world's leading independent elevator components
manufacturers with an extensive global manufacturing footprint and sales
network and a broad range of products. Its product offering features a
large range of elevator components for new elevator manufacturing and
sourcing, for spare parts and for modernization and upgrades. Components
made by Wittur span from sophisticated mechatronic components for elevator
cabin and landing doors (including the associated opening mechanisms) to
other critical components such as gearless drives, slings, safety gears and
cars. The Group also offers complete elevators, which are primarily sold to
independent elevator installers. Installation of elevators and maintenance
services are not part of Wittur's business.
Wittur was founded in 1968. Today, the Group is owned by funds managed by
Bain Capital. It generated preliminary unaudited annual sales in the region
of EUR 588 million in 2015. It has a work force of over 3,300 employees and
conducts business in more than 50 countries.
For more information on the company, please visit www.wittur.com.
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25.02.2016 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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