ATB Austria Antriebstechnik AG

EANS-Adhoc: ATB Austria Antriebstechnik AG
Christian Schmidt retires as CEO of the ATB Austria Antriebstechnik

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ATB Austria Antriebstechnik AG
Christian Schmidt retires as CEO of the ATB Austria Antriebstechnik and joins
the Supervisory Board of the Company  
Vienna, June 8, 2012, Christian Schmidt, longstanding CEO of the Vienna stock
exchange listed ATB Austria Antriebstechnik AG (ISIN AT0000617832) has informed
the majority shareholder, the Wolong Group, as well as the members of the
Supervisory Board, that he will resign early as of June 30, 2012 from his
Management Board function to take up new entrepreneurial challenges. Jiancheng
Chen, Chairman and majority shareholder of the Wolong Group deeply regrets this
decision. To ensure continuity, Christian Schmidt will join the Supervisory
Board of the Motors Group at the earliest possible date so as to provide
advisory support in the successful implementation of the growth strategy. The
Supervisory Board appointed Andreas Schindler, member of the Management Team of
the ATB Group as CEO of the ATB Austria Antriebstechnik as of July 1, 2012. 
"In the past years, Christian Schmidt has fundamentally shaped the development
of the ATB Austria Antriebstechnik and in economically difficult times has set
the right course for the future and thus has well positioned the ATB for the
future, regrets Jiancheng Chen, the decision of Christian Schmidt and adds: "The
negotiations about the acquisition of the shares and our cooperation over the
last six months have always been very constructive and were characterised by a
positive climate. I am very pleased that Christian Schmidt will join the
Supervisory Board and I am convinced that with the ATB we will achieve a lot
through joint efforts." Also Christian Schmidt underlines the successful
cooperation with the Wolong Group in the past months and refers to the positive
performance in the last financial year, which continued in the first quarter of
2012: "Today the ATB Group is again a strong motors group, which is excellently
positioned in the international markets for further growth. For me personally
this means that it is now time to transfer responsibility, since I want to take
the opportunity to fulfil a longstanding wish to engage in international
entrepreneurial activities. I am particularly pleased that my successor will be
from within our own ranks, which is not only a signal for continuity but also a
clear proof of confidence of the majority shareholder in the strength of the ATB
After his business studies at the Wirtschaftsuniversität of Vienna and working
for Procter & Gamble, Frantschach and Mondi, Andreas Schindler, 41, is member of
the Management Team of the ATB Group since 2007 and responsible for various
companies within the ATB Group. 

Further inquiry note:
Dr. Wolfgang Pflüger
ATB Austria Antriebstechnik Aktiengesellschaft
Donau-City-Straße 6, Top 15A
A-1220 Wien
Phone: +43 1 90250-250
Cell:+43 676 83 757 408

end of announcement                               euro adhoc 

issuer:      ATB Austria Antriebstechnik AG
             Donau City Strasse  6, Top 15a, 
             A-1220 Wien
sector:      Technology
ISIN:        AT0000617832
indexes:     Standard Market Auction
stockmarkets: official market: Wien 
language:   English

Weitere Meldungen: ATB Austria Antriebstechnik AG

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