FUCHS PETROLUB augments its Board of Directors and prepares for the future
Fuchs Petrolub AG / Change of Personnel
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FUCHS PETROLUB augments its Board of Directors and prepares for the future
FUCHS PETROLUB augments its Board of Directors from four to six. The change prepares the company for the future. The new organisation with board members for Europe as well as Asia-Pacific and Africa allows for more focus in the various areas of responsibility.
Dr. Lutz Lindemann and Dr. Ralph Rheinboldt were appointed to the Board of Directors of FUCHS PETROLUB AG effective January 1, 2009. Both have been with the FUCHS group for 10 years and have a proven track record in our European development. Dr. Lindemann is 48 years old and holds a PhD in chemistry. He is currently the CEO of FUCHS EUROPE SCHMIERSTOFFE GMBH and in addition is responsible for our growth region Middle and Eastern Europe. Dr. Rheinboldt is 41 years old and holds a PhD in economics. He is the CEO of FUCHS EUROPE which comprises our business in Western Europe and is in addition a managing director of FUCHS EUROPE SCHMIERSTOFFE GMBH. As members of the Board, both will actively contribute to the further positive development of FUCHS PETROLUB and the continued penetration of our home market in Europe.
The augmentation of the Board of Directors from four to six goes hand in hand with a new schedule of responsibilities. The creation of board members for Europe as well as Asia-Pacific and Africa allow more focus within the Board. Due to the inclusion of the FUCHS PETROLUB preference shares in the MDAX which increases investor relation activities, and the requirements of a good corporate governance, which is fully endorsed by FUCHS, it will be necessary that Dr. Alexander Selent concentrates on his responsibilities of finance and personnel as well as Deputy Chairman of the Board. Dr. Georg Lingg who had the responsibility for Technology and Supply Chain within the Board of Directors will assume responsibility for Asia-Pacific and Africa on the Board. This concentration will allow for additional focus on this important growth region. Dr. Lindemann will take over the responsibility for Technology and Supply Chain. As a chemical engineer he has all the credentials to provide additional momentum to our research and development, product management and supply chain. Dr. Rheinboldt will take over the responsibility for Europe. This will ensure that our home market Europe will be represented by a dedicated board member.
FUCHS PETROLUB recorded sales of 1,4 bn € and after tax profits of 120 mn € in 2007. 63 % of the sales were generated in Europe, 21 % in Asia-Pacific and Africa, and 16 % in North and South America. 3,900 employees have contributed to this success.
Mannheim, November 6, 2008
FUCHS PETROLUB AG
Public Relations
Friesenheimer Str. 17
68169 Mannheim
Tel.: ++49 (0) 621 3802 – 105
This press release is also available on the internet at http://www.fuchs-oil.com.
Important note
This press release contains statements about future developments that are based on assumptions and estimates by the management of FUCHS PETROLUB AG. Even if the management is of the opinion that these assumptions and estimates are accurate, future actual developments and future actual results may differ significantly from these assumptions and estimates due to a variety of factors. These factors can include changes in the overall economic climate, changes to exchange rates and interest rates, and changes in the lubricants industry. FUCHS PETROLUB AG provides no guarantee that future developments and the results actually achieved in the future will agree with the assumptions and estimates set out in this press release and assumes no liability for such.
06.11.2008 Financial News transmitted by DGAP
Language: English
Issuer: Fuchs Petrolub AG
Friesenheimer Str. 17
68169 Mannheim
Deutschland
Phone: +49 (0)621 / 3802-0
Fax: +49 (0)621 / 3802-190
E-mail: contact-de.fpoc@fuchs-oil.de
Internet: www.fuchs-oil.de
ISIN: DE0005790406, DE0005790430
WKN: 579040, 579043
Indices: MDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), Stuttgart; Freiverkehr in Berlin, Düsseldorf, Hamburg, München
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