Pfeiffer Vacuum Technology AG: Supervisory Board adopts new Management Board and expanded management structure

In the future, also taking into consideration the existing Relationship Agreement with the Busch Group, the Management Board will consist of only two persons, namely a Chief Executive Officer (who will also serve as Chairperson of the Management Board) and a Chief Operations Officer. The Management Board will in future be supported in its management by a newly formed Group Executive Committee, which, in addition to the members of the Management Board, will include in particular the Chief Financial Officer, the Chief Sales Officer and the Chief Technology Officer.

The Supervisory Board has also appointed Dr. Britta Giesen as a new member of the Management Board as of October 1, 2020. She is the designated Chairwoman of the Management Board and will take over this function from the current Chairman of the Management Board Dr. Eric Taberlet, who is expected to retire on January 1, 2021. Dr. Britta Giesen holds a degree in industrial engineering (mechanical engineering, operations research) and is currently Chief Operating Officer at ISS Facility Services Holding; her previous positions include CEO at ThyssenKrupp Access Solutions and Senior Vice President of the Submersible Pumps business unit at KSB. This is part of the Supervisory Board's long-term succession planning.

"Dr. Eric Taberlet has made a significant contribution to the success of the company over the past 33 years, particularly as General Manager at our French subsidiary and, since the end of 2017, as CEO of our company. For example, he has been a driving force in the integration of the entire company into a global organizational structure", says Ms. Ayla Busch, Chairwoman of the Supervisory Board. "We thank him very much for his work at Pfeiffer Vacuum. We are very pleased that we have won Dr. Britta Giesen to take our well-positioned company to a new level together with the prospectively expanded management team. I am very confident that Dr. Britta Giesen will be doing outstanding work as part of the team in order to purposefully implement the growth-oriented business strategy that is supported by the Supervisory Board."

Dr. Eric Taberlet, Chief Executive Officer, comments: "I am confident that the new leadership team will further pursue our progress to achieve our strategic goals. Within the last years, we put in place the global organization to drive the transformation of our Company. This provides a strong foundation for Pfeiffer Vacuum's future success."

Dr. Britta Giesen: "Pfeiffer Vacuum is a successful global innovation leader in the vacuum industry. I am very much looking forward to sustaining the extensive capital investment program that has been initiated, which will enable us to shape our future course even more successfully through the digitalization and optimization of our processes. In addition, there are further exciting challenges such as the planned growth in China, the development of our strategic application areas and the expansion of our global presence and the optimization of our supply chains as well as the further development of our business models in order to achieve significant growth and further increase profitability".

Ms. Nathalie Benedikt, currently a member of the Management Board and Chief Financial Officer, will leave the company by mutual agreement upon the regular termination of her appointment at the end of the year.

"Over the past three years, Ms. Nathalie Benedikt has positively developed the company, competently enhanced processes in the area of finance and, above all, the risk management and compliance management system. We thank her very much for her dedication and commitment to Pfeiffer Vacuum," says Ms. Ayla Busch.