Changes in the Board of Management

Dr. Wolfgang Flaegel, Senior Executive Vice President and CFO of the Group, will leave the Company by his own request as of December, 31st 2016.
The responsibilities of the CFO will be taken over by Mr. C. Michael Illies.

As Mr. C. Michael Illies, President and CEO of the ILLIES GROUP:
„... during his tenure as CFO Dr. Flaegel has been instrumental to important changes within the organization of the Company and we thank him for his diligent work and his contribution. Dr. Flaegel has decided to embark on a new career path we accept his decision to leave the Company for this reason. We wish him all success for his plans!“