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PCB | November 26, 2008

Change in top management of Cicor Technologies

The Board and the CEO of Cicor Technologies, Lucas A. Grolimund, have come to a mutual understanding to terminate the employment as a result of disagreements regarding the strategic development of the Group.
At the same time, the Chairman of the Board, Erwin Steinman, resigned from the Board. The current Vice Chairman, Antoine Kohler, assumes the position of the Chairman.

The Presidium, under the management of Antoine Kohler and the members Jean-Louis Fatio and Robert Demuth will, together with the CFO Franz Rutzer and the three Division Managers, guarantee the continuity in operations. Franz Rutzer is appointed as a speaker of the Group Management.

Lucas A. Grolimund as CEO – along with his competent leadership of the Group – has successfully accomplished the integration of the newly acquired Asian entities. The search of a new CEO will be immediately initiated. The Group will inform in due course of the succession. The Group confirms its prospects for 2008 as communicated on 3 November, 2008.

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