18.03.2018
GEA Group Aktiengesellschaft DE0006602006
DGAP-News: GEA Group Aktiengesellschaft: GEA's CEO will not renew his contract enabling the next generation of leadership
DGAP-News: GEA Group Aktiengesellschaft / Key word(s): Change of Personnel
GEA Group Aktiengesellschaft: GEA's CEO will not renew his contract enabling
the next generation of leadership
18.03.2018 / 15:40
The issuer is solely responsible for the content of this announcement.
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GEA's CEO will not renew his contract enabling the next generation of
leadership
Düsseldorf, March 18, 2018 - Today, the long-standing CEO of GEA Group
Aktiengesellschaft, Jürg Oleas (60), has informed the Chairman of the
Supervisory Board, Dr. Helmut Perlet, that he is not seeking to extend his
term of office beyond December 31, 2019. Furthermore, Jürg Oleas also
suggested to leave from the Executive Board at the Annual General Meeting in
April 2019 in order to allow a swift change in leadership.
Dr. Helmut Perlet, Chairman of GEA's Supervisory Board, commented: "I deeply
regret Jürg Oleas's decision, but at the same time, I respect this step. The
suggested timeframe guarantees that the ongoing implementation of the
company's strategic objectives will continue to be advanced during the
current fiscal year while at the same time Jürg Oleas will be able to ensure
an orderly transition. The Supervisory Board will shortly discuss any
further course of action and commence the formal selection process without
delay. Our goal is to appoint a successor by the end of 2018. I would like
to very much thank Jürg Oleas for his many years of successful service to
GEA over the past 17 years. He, more than anyone, has left his mark on the
company, with GEA evolving into a successful international enterprise in the
food, beverage and process technology industries under his leadership.
Today, GEA is a technology and market leader in the majority of its
markets."
Jürg Oleas stated: "By taking this step, my focus is on paving the way for
an orderly succession process allowing the company to successfully further
develop GEA. Nonetheless, it was not an easy decision for me to make as I
feel strongly committed to GEA, its employees as well as its customers all
over the world. During the remaining time, I will further advance the
implementation of GEA's strategic objectives and help ensure an orderly
leadership transition. I would like to express my sincere gratitude to the
Supervisory Board and all employees, thanking them for the trust they placed
in me while looking forward to continuing our close cooperation in the
months ahead."
Corporate Media and Press:
Marc Pönitz
Peter-Müller-Str. 12, 40468 Düsseldorf, Germany
Phone +49 211 9136-1500
[email protected]
About GEA
GEA is one of the largest suppliers for the food processing industry and a
wide range of other industries that generated consolidated revenues of
approximately EUR 4.6 billion in 2017. The international technology group
focuses on process technology, components and sustainable energy solutions
for sophisticated production processes in various end-user markets. The
group generates around 70 percent of its revenue in the food and beverages
sector that enjoys long-term sustainable growth. As of December 31, 2017,
the company employed about 18,000 people worldwide. GEA is a market and
technology leader in its business areas. The company is listed on the German
MDAX (G1A, WKN 660 200). In addition, GEA's stock is included in the MSCI
Global Sustainability Indexes. Further information is available on the
Internet at gea.com.
Contact:
GEA Group Aktiengesellschaft
Phone +49 (0)211 9136 1492
Fax +49 (0)211 9136 31087
gea.com
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18.03.2018 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.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: GEA Group Aktiengesellschaft
Peter-Müller-Straße 12
40468 Düsseldorf
Germany
Phone: +49 (0)211 9136-0
Fax: +49 (0)211 9136-31087
E-mail: [email protected]
Internet: www.gea.com
ISIN: DE0006602006
WKN: 660200
Indices: MDAX
Listed: Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime
Standard), Hamburg, Munich; Regulated Unofficial Market in
Hanover, Stuttgart, Tradegate Exchange
End of News DGAP News Service
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