EANS-Adhoc: Balda AG: Rainer Mohr stands down from the position of CEO
Balda
AG appoints Dominik Müser and James Lim to the Board of Directors
29.12.2011 – 14:36
-------------------------------------------------------------------------------- ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- 29.12.2011 Bad Oeynhausen, 29 December 2011 - Rainer Mohr, sole member of the Board of Directors of the Frankfurt SDax listed company Balda AG since February 2011, has stood down from the position of CEO with effect of 1 January 2012 in consultation with the Supervisory Board as a result of differing views regarding strategy. Mohr joined the company´s Board of Directors on 3 July 2009 and was responsible for Finance, Administration and Strategy. In the past two and a half years, he has successfully restructured the Balda Group with the goal of realignment, sold loss makers and disposed of inherited liabilities. The Supervisory Board wishes to thank Rainer Mohr for his work. With Dominik Müser and James Lim, the Supervisory Board has thereupon appointed two new members of the Board of Directors. Dominik Müser was appointed Chief Executive Officer (CEO); he will be responsible for the company's strategy in the future; he will also perform the functions of a Chief Financial Officer (CFO) and will thus be responsible for the areas of finance, law and administration as well. James Lim will be responsible as new COO for production, sales and development. The new CEO of Balda AG, a former partner of the consultancy firm Roland Berger Strategy Consultants GmbH, has in recent years worked as director and CEO at various companies, where he worked successfully for the benefit of the shareholders and partners there. On the basis of the existing activities in the areas of the Medical and Electronic Products segments, Dominik Müser is to craft a future strategy for the company that will facilitate a profitable continued existence of the company. James Lim, who was appointed COO, was CEO of the Malaysian subsidiary of Balda Solutions Malaysia until the end of 2010. Based on his many years of experience in production, he is to strengthen Balda AG and make it more powerful. Alongside the continuing challenges in terms of the involvement in TPK, the two newly appointed members of the Board of Directors are to strengthen the company operationally and make it fit for the future. * * * Company profile of Balda AG The Balda Group develops and produces complete plastic assemblies, electronic products and products for the medical technology industry. Balda's customers are leading companies in the pharmaceutical and medical technology,consumer electronics, electronic communications and mobile phone markets. The Group is internationally positioned with production sites in Germany and Malaysia. A subsidiary in the USA focuses on product design and product development. Within the scope of its shareholding in a leading touchscreen manufacturer in China, Balda is participating in the dynamic development of the touchscreen displays market. * * * This ad-hoc announcement contains forward-looking statements that are based on the current expectations of Balda's management. They may contain a number of risks and uncertainties because they refer to future events and depend on circumstances that will occur in the future. Such events include the developments in the mobile communications industry, changes in technology and the ability to develop new products in a timely and successful manner. Balda will neither revise these forward-looking statements nor correct them in the event of any unexpected development, unless there is a legal obligation to do so. This ad-hoc announcement represents neither an offer to buy shares nor an invitation to submit an offer to buy shares in the United States or any other country. The shares in Balda AG (the "shares") may not be offered or sold in the United States or to or for the account of U.S. persons (as defined in Regulation S of the U.S. Securities Act of 1933, in its current version [the "Securities Act"]), unless they are registered or are exempt from registration under the Securities Act. The shares have not been and will not be registered under the Securities Act. ----------------------- Further inquiry note: Clas Röhl Tel.: +49 (0) 5734 922-2728 croehl@balda.de end of announcement euro adhoc -------------------------------------------------------------------------------- issuer: Balda AG Bergkirchener Str. 228 D-32549 Bad Oeynhausen phone: +49 (0) 5734 9 22-0 FAX: +49 (0) 5734 922-2747 mail: info@balda.de WWW: http://www.balda.de sector: Semiconductors & active components ISIN: DE0005215107 indexes: CDAX, Prime All Share stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin, Hamburg, Stuttgart, Düsseldorf, München language: English