Next step taken in integration process within Meyer Burger Group
- Restructuring of management board team
- Dr. Dietmar Roth becomes member of Board of Directors at Meyer Burger Technology AG
Hohenstein-Ernstthal, 3 October 2011 – As part of the integration of the Roth & Rau Group within the Meyer Burger Group, the Supervisory Board of Roth & Rau AG has taken a further major step by restructuring the management board team. Dr. Dietmar Roth will step down as Chairman of the Management Board with immediate effect and move to the Board of Directors at Meyer Burger Technology AG. “I have always stressed that I would stand back from my operational responsibilities at the right time. That time has come now that the takeover by Meyer Burger has been successfully completed and we have found high-quality, experienced managers keen to shape Roth & Rau`s further successful development in the long term. Given the length and depth of my involvement with Roth & Rau AG, however, it is only natural that I should offer active support to the newly restructured Management Board and advise them in all key issues”, commented Dr. Roth.
The Supervisory Board has appointed Peter Frankfurter as the company`s new Chief Financial Officer (CFO) with immediate effect. The 48 year-old business graduate has longstanding management experience as CFO and in other commercial management roles at international industrial companies. Frankfurter was previously Commercial Director at SUMIDA Europe GmbH, one of the world`s key manufacturers of inductive components and modules for the electrical and electronics industries.
Peter R. Manolopoulos (42) will assume responsibility for operations as COO also with immediate effect. Born in Wuppertal, Manolopoulos can look back on a long track record of international activity as managing director and division head at mechanical engineering and plant construction companies, focusing on energy technology. Having studied business administration, he first gained experience in areas including strategy and M&A at Babcock Borsig AG. In 2002, he moved to the publicly listed GEA Group AG, where he held various management positions, most recently prior to joining Roth & Rau AG with responsibility for the wet cooling division as Managing Director of GEA Energietechnik GmbH.
Thomas Hengst will continue to be responsible for the sales division in the Management Board in his role as CSO of Roth & Rau AG.
Furthermore, Peter M. Wagner, to date Supervisory Board Chairman of Roth & Rau AG will initially assume the role of Management Board Chairman. “We will not be filling the traditional CEO post following the successful integration of the company into the Meyer Burger Group. Rather than that, Peter Frankfurter, Peter Manolopoulos and Thomas Hengst will manage the operations of the Roth & Rau Group as a team of three. For the transitional period the planned delisting of Roth & Rau AG has been implemented, I will therefore assume the role of CEO. In this, my main focus will be on pressing rapidly and efficiently ahead with the integration process to exploit the synergy effects available to the combined group on the market”, explained Wagner with regard to his role in the new management board team.
The company`s Management Board thus currently comprises four members. Due to Peter M. Wagner`s appointment to the Management Board, the Supervisory Board has requested its former member Prof. Alexander Michaelis to assume the position thereby temporarily vacant. Wagner`s deputy, Andrea Sieber, will assume the Chairmanship of the Supervisory Board.
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