DGAP-News: Balda AG is appointing Michael Sienkiewicz, an experienced industry expert, as new Chief Executive Officer (CEO)


Balda AG / Key word(s): Change of Personnel/Miscellaneous

06.07.2009 08:34


Balda AG is appointing Michael Sienkiewicz, an experienced industry expert,

as new Chief Executive Officer (CEO)

Bad Oeynhausen, 6 July 2009. – Balda AG, listed in the Prime Standard of

the Frankfurt Stock Exchange,has rearranged itself in its top management

bodies. At the annual general meeting on 3 July the new Supervisory Board

was elected with an overwhelming majority. Management consultant Dino

Kitzinger was elected new Chairman of the Supervisory Board. In its meeting

over the weekend the Supervisory Board appointed Michael Sienkiewicz (56)

as its new Chief Executive Office (CEO). Sienkiewicz will take office as of


Sienkiewicz, with a degree in Mathematics, is a proven industry expert and

knows the Balda Group from his work in the Supervisory Board of the company

to which he belonged until 3 July 2009.

Michael Sienkiewicz brings along extensive experience from the hightech

electronic business. In particular, he can point to expertise of over 26

years in dealing with plastic moulding and touch technologies, the core

business of Balda.

Until the year 2002 Sienkiewicz was president of Elo TouchSystems, a

globally leading manufacturer of touch sensitive displays (touchscreens).

Since then he has been working as a specialized management consultant for,

among others, banks and investment funds in evaluating technologies and

patents. In addition, he has been teaching at the renowned Massachusetts

Institute of Technology (MIT).

Dino Kitzinger, Chairman of the Supervisory Board: ‘We are proud to have

been able to retain such an outstanding industry expert like Michael

Sienkiewicz as Chief Executive Officer. As a former member of the

Supervisory Board he knows our company and seamlessly can continue the

turnaround that has already started successfully. With his experience he

will stand for a clear leadership of the company and will provide a

substantial impulse towards technical innovation and strategic positioning

of the Balda group’.

Overall, the Chairman of the Supervisory Board continued, the company has

an excellent combination of professionals with industry, financial and

turnaround expertise. ‘This way we can put Balda on a sustainable and

profitable growth path’, Kitzinger said. With the already announced

appointment of Rainer Mohr (51) as new Chief Financial Officer (CFO), Balda

AG has replaced both the Supervisory Board and the Board of Directors. ‘Now

we can take on the tasks ahead of us with full speed’, Kitzinger added.

Company profile Balda AG

The Balda Group develops and produces highly integrated plastic and

electronic devices, primarily for the telecommunications sector. In

addition, the company manufactures high-tech equipment such as headphones

and hands-free sets.

The future is derived from past experience. Balda has developed an active

culture of continuous transformation through the traditions established

within the hundred years of its existence. Since its founding, innovation

and technology have been the significant driving forces of progress and the

guarantors of corporate success. Today, Balda is an internationally

positioned high-tech company with innovative products and a high

performance capacity.

Balda AG, which is registered in the Prime Standard on the German Stock

Exchange, services international brand-name clients in the mobile

telecommunications sector, medical technology and other similar markets.

The Group produces close to its customers’ locations in the expanding

growth markets. With three production facilities, the Group has a strong

position in China and Malaysia. Within the framework of a shareholding in a

leading producer of touch screens in China, Balda is participating in the

dynamic development in the touch-sensitive display sector.

The vision was and is clear: Balda will strengthen its technological

innovations potential and further expand in the promising growth regions of

Asia. Balda will thus achieve the conditions for profitable growth and a

sustainable increase in added value.

* * *

If you have any questions please contact: Balda AG, Clas Röhl, Phone: +49

5734 922 2728, Fax: +49 5734 922 2604. Email: croehl@balda.de, Internet:


* * *

This ad hoc announcement includes ‘forward-looking statements’ which are

based on the current expectations of the management of Balda. They are

subject to risks and uncertainty because they relate to events and depend

on circumstances that will occur in the future, such as, for example,

developments in the mobile communications industry, changes in technology

and the ability to timely and successfully develop new products and various

other factors. Balda does not undertake any obligation to update publicly

or revise forward-looking statements except to the extent legally required.

This ad hoc announcement is not an offer of securities for sale or a

solicitation of an offer to purchase securities in the United States or

elsewhere. The shares in Balda AG (the ‘Shares’) may not be offered or sold

in the United States or to or for the account or benefit of U.S. persons

(as such term is defined in Regulation S under the U.S. Securities Act of

1933, as amended (the ‘Securities Act’)) unless registered under the

Securities Act or pursuant to an exemption from such registration. The

Shares have not been and will not be registered under the Securities Act.

06.07.2009 Dissemination of a Corporate News, transmitted by DGAP –

a company of EquityStory AG.

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Language: English

Company: Balda AG

Bergkirchener Str. 228

32549 Bad Oeynhausen


Phone: +49 (0) 57 34 / 9 22-0

Fax: +49 (0) 57 34 / 9 22-2604

E-mail: info@Balda.de

Internet: www.balda.de

ISIN: DE0005215107

WKN: 521510

Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr

in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart

End of Announcement DGAP News-Service