Emmenbrücke, December 23, 2013 – The Board of Directors of SCHMOLZ + BICKENBACH AG announces that CEO Johannes Nonn leaves the Company. The Board of Directors appointed CFO Hans-Jürgen Wiecha as CEO ad interim.
Johannes Nonn informed the Board of Directors that he intends to leave SCHMOLZ +
BICKENBACH based on his contractual rights under the change-of-control clause. Therefore Mr. Nonn and SCHMOLZ + BICKENBACH have mutually agreed to terminate the employment agreement as of December 31, 2013. Mr. Nonn was released from all his duties and functions with immediate effect. The Board of Directors has engaged an executive search firm to find a new CEO.
The Board of Directors has unanimously appointed CFO Hans-Jürgen Wiecha as CEO ad interim effective immediately. At the same time, Mr. Wiecha and the Company have reached an agreement by which Mr. Wiecha waived his rights under the change-of-control clause.
Hans-Jürgen Wiecha was instrumental to the Company’s 2013 transformational capital increase of CHF 439 million and is the architect of the ongoing comprehensive strategic and operational restructuring. Hans-Jürgen Wiecha stated: “I am fully committed to SCHMOLZ + BICKENBACH, and I am convinced that the strategic and operational restructuring we have started in 2013 and which we will pursue insistently will bring SCHMOLZ + BICKENBACH to renewed success.”
SCHMOLZ + BICKENBACH Chairman Edwin Eichler said: “The Board of Directors has complete confidence in Hans-Jürgen Wiecha to manage the Company’s business in this interim period and to continue to drive the implementation of the approved strategy. The Board of Directors is fully dedicated to supporting Hans-Jürgen Wiecha during this period of transition.”
About SCHMOLZ + BICKENBACH
The SCHMOLZ + BICKENBACH GROUP is one of the world’s leading providers of special high-grade steels. The GROUP is one of the leading producers on the global market both in tool steels as well as for stainless long steels and is one of the three largest companies in Europe for alloy and high-alloy special and engineering steels. With circa 10,000 employees and its own production and distribution companies in more than 35 countries on five continents, the company guarantees its customers global support and supply and offers them the entire portfolio consisting of production and sales + services at locations worldwide. They benefit from the technological expertise of the company, the same high product quality wherever in the world, as well as a detailed knowledge of local
markets.