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Abonner Wacker Chemie AG

Wacker Chemie AG

Peter-Alexander Wacker is new Chairman of the Supervisory Board

Munich (euro adhoc) -

  • At its constituent session, new Supervisory Board unanimously elects Peter-Alexander Wacker to its Chairman - Rudolf Staudigl becomes President & CEO, Wilhelm Sittenthaler joins Executive Board
  • Executive and Supervisory Board proposals adopted by large majority at 2008 Annual Shareholder Meeting - Dividend raised to €3.00 for 2007, including a special bonus - Sales and aernings forecast for 2008 reaffirmed
  ots.CorporateNews transmitted by euro adhoc. The issuer is responsible for
  the content of this announcement.
companies
May 8, 2008 - Today, Wacker Chemie AG´s
Supervisory Board unanimously elected former President & CEO 
Peter-Alexander Wacker (57) to its chairman during its constituent 
session following 2008´s Annual Shareholder Meeting. At the end of 
the Annual Shareholder Meeting, Rudolf Staudigl (53) took over as 
President & CEO, as previously announced. Wilhelm Sittenthaler (52) 
acquired a seat on WACKER´s Executive Board, his appointment also 
taking effect at the end of the Annual Shareholder Meeting. The 
changeover on both boards was thus completed as planned.
After the best year in its over 90-year history, the MDAX-listed 
chemical company will distribute a total of EUR149.0 million (2007: 
EUR124.2m) to its shareholders. The dividend, including a special 
bonus of EUR0.75 (2007: EUR0.50), rose to EUR3.00 (2007: EUR2.50) per
entitled share. The Annual Shareholder Meeting likewise adopted the 
remaining Supervisory and Executive Board proposals by a large 
majority.
WACKER´s 2007 sales and earnings marked a new all-time high. Sales 
increased 13 percent to EUR3.78 billion (2006: EUR3.34bn), with net 
income rising 36 percent to EUR422 million (2006: EUR311.3 million).
In the first quarter of 2008, the Munich-based chemical company 
maintained its growth course. Q1 sales rose 8 percent year on year, 
reaching EUR1.02 billion (Q1 2007: EUR943.7 million). Net income 
climbed to EUR130.6 million (Q1 2007: EUR114.5m), up 14 percent.
WACKER reaffirmed its full-year forecast for 2008. The company 
expects consolidated sales to gain clearly over 10 percent. EBITDA 
(earnings before interest, tax, depreciation and amortization) is 
expected to grow, too.
"Despite significant economic headwinds, we are on course for solid 
sales and earnings growth," said outgoing President & CEO 
Peter-Alexander Wacker to the shareholders on Thursday in Munich. 
"Our strong first quarter is a sound basis for sustaining the 
positive trend during the rest of the year," he added.
At the same time, Peter-Alexander Wacker thanked shareholders, 
business partners and employees for their trust. "I´m especially 
grateful to our employees, whose hard work over the years greatly 
helped to ensure WACKER´s success," he said. "I cannot stress enough 
how much I value their commitment."
Resolutions and Voting Results At today´s Annual Shareholder Meeting,
43,328,013 voting shares were represented - 83.08 percent of all 
eligible shares (number of shares outstanding: 49,677,983). The 
voting results for agenda items 2 through 8 were as follows:
Item 2: Resolution on the Appropriation of Profits The Executive and 
Supervisory Boards proposed that the net retained profit for fiscal 
2007, amounting to EUR1.09 billion, be appropriated as follows: 
EUR149.0 million to be paid out to shareholders, EUR617.0 million to 
be kept as retained earnings and EUR326.9 million to be carried 
forward to new account. The proposal was adopted. The result was: - 
43,295,950 Yes votes (99.99 percent) - 1,941 No votes
Item 3: Resolution on the Ratification of the Actions of the 
Executive Board The Executive and Supervisory Boards´ proposal to 
ratify the acts of the members of Wacker Chemie AG´s Executive Board 
during fiscal 2007 was adopted. The result was: - 42,348,623 Yes 
votes (99.90 percent) - 42,892 No votes
Item 4: Resolution on the Ratification of the Actions of the 
Supervisory Board The Executive and Supervisory Boards´ proposal to 
ratify the acts of the members of Wacker Chemie AG´s Supervisory 
Board during fiscal 2007 was adopted. The result was: - 42,361,492 
Yes votes (99.90 percent) - 42,935 No votes
Item 5: Resolution on the Choice of Auditor The Supervisory Board´s 
proposal to appoint KPMG as auditor for fiscal 2008 was adopted. The 
result was: - 43,243,604 Yes votes (99.88 percent) - 50,914 No votes
Item 6: Supervisory Board Elections The Supervisory Board´s proposal 
to appoint the following persons to the Supervisory Board was adopted
by over 90.9 percent in each case. Matthias Biebl, Dr. Werner Biebl, 
Franz-Josef Kortüm, Dr. Thomas Strüngmann, Dr. Bernd Voss, Dr. 
Peter-Alexander Wacker, Dr. Susanne Weiss and Prof. Dr. Ernst-Ludwig 
Winnacker were appointed until the 2013 Annual Shareholder Meeting. 
The individual results for each candidate have been published at 
www.wacker.com.
Item 7: Authorization to Acquire Treasury Shares The Executive and 
Supervisory Boards´ proposal to authorize the Executive Board to 
acquire treasury shares representing up to 10 percent of the current 
share capital was adopted. The result was: - 43,251,467 Yes votes 
(99.99 percent) - 2,019 No votes
Item 8: Resolution on Changes to the Articles of Incorporation The 
Executive and Supervisory Boards´ proposal to increase the annual 
compensation (stipulated in the Articles of Incorporation) for 
Supervisory Board members from EUR15,000 to EUR25,000 was adopted. 
The result was: - 42,393,007 Yes votes (97.91 percent) - 903,256 No 
votes
Information for editorial offices: All documents relating to Wacker 
Chemie AG´s 2008 Annual Shareholding Meeting can be downloaded from 
WACKER´s website (www.wacker.com) under Investor Relations.
This press release contains statements about the resolutions of the 
2008 Annual Shareholder Meeting. Said statements are not binding and 
serve the sole purpose of providing an overview. They may not always 
correspond to the exact wording and full extent of the resolutions 
adopted at the Annual Shareholder Meeting.
This press release contains forward-looking statements based on 
assumptions and estimates of WACKER´s Executive Board. Although we 
assume the expectations in these forward-looking statements are 
realistic, we cannot guarantee they will prove to be correct. The 
assumptions may harbor risks and uncertainties that may cause the 
actual figures to differ considerably from the forward-looking 
statements. Factors that may cause such discrepancies include, among 
other things, changes in the economic and business environment, 
variations in exchange and interest rates, the introduction of 
competing products, lack of acceptance for new products or services, 
and changes in corporate strategy. WACKER does not plan to update the
forward-looking statements, nor does it assume the obligation to do 
so.
end of announcement                               euro adhoc

Further inquiry note:

Christof Bachmair
Media Relations & Information
Tel.: +49 (0)89 6279 1830
E-Mail: christof.bachmair@wacker.com

Branche: Chemicals
ISIN: DE000WCH8881
WKN: WCH888
Index: Midcap Market Index, MDAX, CDAX, Classic All Share, HDAX,
Prime All Share
Börsen: Börse Frankfurt / regulated dealing/prime standard

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