Pfäffikon SZ, 10 February 2010 - The Board of Directors of Oerlikon Group has appointed Dr. Michael Buscher to take on the position as CEO of the company. It is expected that Dr. Buscher will join Oerlikon in May 2010. Mr. Hans Ziegler will continue in his role as Delegate of the Board until Dr. Buscher is free from his previous contract obligations.
The nomination of Dr. Buscher results from a final selection of various well qualified candidates, which were identified in a thorough search process by the Board of Directors beginning immediately after the nomination of Mr. Ziegler as interim CEO.
Dr. Buscher (1965, German citizen) holds a Master's degree and gained a PhD in Electrical Engineering from the Technische Universität Darmstadt, Germany. He has 20 years industrial experience and achieved excellent results in various leading positions. Currently he is responsible as President for the globally operating business unit Propulsion & Controls of Bombardier Transportation and secured sustained profitable growth in a challenging international environment. Dr. Buscher can build on a long and highly successful career within Bombardier and its predecessors which demonstrates his long-term oriented way of working. Since 2003 he lives in Switzerland.
Both the Board of Directors and Dr. Buscher have agreed that his involvement with Oerlikon will be of a long-term nature. Mr. Ziegler and Dr. Buscher will be working closely to ensure a smooth transition in the company's leadership.
"Dr. Buscher's appointment is yet another step forward toward securing a stable and sustainable future for Oerlikon and all of its business units. We look forward to working together with him toward this shared goal", comments Vladimir Kuznetsov, Chairman of Oerlikon Group.
Oerlikon (SIX: OERL) is one of the world's leading high-tech industrial groups specializing in machine and plant engineering. The company is a provider of innovative industrial solutions and cutting-edge technologies for textile manufacturing, thin-film coating, drive, precision, vacuum and solar systems. A Swiss company with a tradition going back 100 years, Oerlikon is a global player with around 16,000 employees at 180 locations in 37 countries and sales of CHF 4.8 billion in 2008. The company ranks either first or second in the respective global markets.