DGAP-News: ElringKlinger AG / Key word(s): Change of Personnel ElringKlinger AG: Karl Schmauder steps down from his role as board member 23.02.2016 / 11:11 The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Dettingen/Erms (Germany), February 23, 2016 +++ Karl Schmauder, member of the Management Board of ElringKlinger AG, stepped down from his role as Management Board member with immediate effect. Mr. Schmauder had been responsible for Original Equipment Sales and New Business Areas. This step had been prompted by differences of opinion between Mr. Schmauder and the other members of the Management Board as to the future organizational and strategic alignment of the ElringKlinger Group. In future, the Management Board of ElringKlinger will again consist of three members. CEO Dr. Stefan Wolf will take over the area of "Original Equipment Sales" from Mr. Schmauder. "New Business Areas" will be overseen by Theo Becker, COO responsible for Production and Technology. Thomas Jessulat will remain responsible for the central functions of Finance/Controlling as well as IT and the Industrial Parks division. Walter H. Lechler, Chairman of the Supervisory Board, emphasized: "We fully respect Mr. Schmauder for the consistency shown in making this decision. He deserves our sincere thanks. Mr. Schmauder was instrumental in propelling forward many valuable technical developments and innovations during his 34 years of service within the ElringKlinger Group. At the same time, we as the Supervisory Board are, on the whole, convinced that ElringKlinger's strategic positioning is also well judged and promising when it comes to the future of this company. We as a corporate body support the route charted by the Management Board." "We as the Management Board would also like to thank Mr. Schmauder for the solid and constructive partnership established over recent years. Mr. Schmauder has made valuable contributions to develop ElringKlinger from a gasket manufacturer to a globally leading technology group," said Dr. Stefan Wolf, Cief Executive Officer of ElringKlinger AG. "There are situations in which differences of opinion can no longer be reconciled. In this case, it is in the interest and for the good of the company to set a clear course. I am pleased that we have reached an amicable agreement with Mr. Schmauder. In consistently targeting efficient technologies geared to the future and focusing on new drive systems as well as innovations beyond the automotive industry, while remaining realistic about what can be achieved within the market, we have equipped ourselves well to tackle the challenges that lie ahead." __________________________________________________________________________ For further information, please contact: ElringKlinger AG Dr. Jens Winter Investor Relations / Corporate PR Max-Eyth-Straße 2 72581 Dettingen/Erms Germany Phone +49 7123 724-88335 Fax +49 7123 724-85 8335 E-mail [email protected] About ElringKlinger AG ElringKlinger has focused its efforts on developing forward-looking green technologies. These are designed not only to reduce CO2 emissions but also to scale back the level of harmful nitrogen oxides, hydrocarbons and soot particles. ElringKlinger is one of the few automotive suppliers worldwide with the capabilities of developing and producing high-tech components for all types of drive system - whether for downsized combustion engines or for electric vehicles driven by batteries or fuel cells. Drawing on our expertise in lightweight engineering, we can make a decisive contribution to efforts aimed at further reducing vehicle weight and thus fuel consumption. The company's portfolio centered around emissions reduction also includes particulate filters and end-to-end exhaust gas purification systems used in ships, commercial vehicles, construction machinery and stationary engines as well as in power stations. This is complemented by products made of the high-performance plastic PTFE supplied by ElringKlinger Kunststofftechnik, which are marketed to a wide range of industries - also to those operating beyond the vehicle manufacturing sector. Applying our abilities as an innovator, we are committed to sustainable mobility and earnings-driven growth. These efforts are supported by our dedicated workforce of more than 7,900 people at 45 ElringKlinger Group locations around the globe. --------------------------------------------------------------------------- 23.02.2016 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. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: ElringKlinger AG Max-Eyth-Straße 2 72581 Dettingen/Erms Germany Phone: 071 23 / 724-0 Fax: 071 23 / 724-9006 E-mail: [email protected] Internet: www.elringklinger.de ISIN: DE0007856023 WKN: 785602 Indices: MDAX Listed: Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich; Terminbörse EUREX End of News DGAP News Service --------------------------------------------------------------------------- 439409 23.02.2016