DGAP-News: Balda AG is appointing Michael Sienkiewicz, an experienced industry expert, as new Chief Executive Officer (CEO)
06.07.2009
Balda AG / Key word(s): Change of Personnel/Miscellaneous
06.07.2009 08:34
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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
today.
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:
www.balda.de
* * *
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.
The issuer is solely responsible for the content of this announcement.
DGAP’s Distribution Services include Regulatory Announcements,
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Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Balda AG
Bergkirchener Str. 228
32549 Bad Oeynhausen
Germany
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
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