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Changes in the Board of Directors of Oerlikon

After four intense years at the helm of Oerlikon and a total of 25 years in key management positions in major global industrial companies, Tim Summers explains his decision: “Oerlikon is now in good shape, back to profitable growth, with a streamlined and clear strategy, paying regular dividends, and prepared for the future”. The Board of Directors regrets his decision and expresses its thanks for his leadership over the past four years, steering the company to strategic, financial and operational stability.

In addition, current Board Directors Carl Stadelhofer and Kurt Hausheer will not stand for re-election at the Annual General Meeting of Shareholders, having both served on the Board of Directors since 2008. The Board of Directors of Oerlikon thanks them for their profound contributions to the company over the past seven years, and wishes them both well in their future endeavours.

At the Annual General Meeting of Shareholders, to be held on April 8, 2015, the Board of Directors proposes Dr Michael Süss to the role of Chairman of the Board of Directors and Johan van de Steen as member of the Board of Directors of Oerlikon, both representing Renova. The Board also proposes Dr Mary Gresens to join the Board of Directors as an independent Director.

Dr Michael Süss (51, German citizen) has been Member of the Managing Board of Siemens AG and Chief Executive Officer of the Siemens Energy Sector until 2014. The Energy Sector is a world’s leading supplier of power technologies along the entire energy conversion chain. He previously served as Chief Executive Officer of the Fossil Power Generation Division of the Energy Sector from 2008 to 2011 and was a member of the Group Executive Management of the Siemens AG Power Generation Group from October 2006 to December 2007. Before joining Siemens, Süss worked in the aero engine and automotive industries, holding various management positions at BMW, Porsche and MTU. He graduated with a degree in Mechanical Engineering from the Technical University of Munich and completed his doctorate at the Institute for Industrial Science/Ergonomics at the University of Kassel (Dr. rer. pol.) in 1994. Since the beginning of 2015 he is CEO of Georgsmarienhütte Holding, a traditional German steel company. He joined Renova Management AG in 2015.

Johan Van de Steen, (49, Belgian citizen) comes from the telecommunications industry, where he managed projects in Europe and Africa. After several years in Siemens AG, and subsequently as a consultant with McKinsey & Co, in London he joined the investment house KKR as a partner. He joined Renova Management AG in 2014.

Dr Mary Gresens (59, US citizen) has experience of over thirty years as a business executive in international industry. She was the President of the Automotive Division for Schaeffler Group, and soon thereafter assumed the position of CFO. Previous roles include CFO of ITT Europe GmbH as well as Director of Strategic Development at Lear Corporation. She has served as a director on the boards of such institutions as Deutsche BP, Commerzbank, and Gerling. Dr Gresens is a Senior Member of the Society of Automotive Engineers, and teaches project management and liberal studies at Georgetown University, USA. Dr Gresens holds a Masters degree from George Washington University and a doctorate from Georgetown University.

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