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SAF-HOLLAND S.A., LU0307018795

SAF-HOLLAND S.A., LU0307018795

05.11.2019 - 12:24:55

SAF-HOLLAND S.A.: SAF-HOLLAND: Ingrid Jägering appointed as a member of the Board of Directors

SAF-HOLLAND: Ingrid Jägering appointed as a member of the Board of Directors  

- Independent member of the Board of Directors and new Chair of the Audit Committee  

- Financial expert with a sound knowledge of the automotive supply industry, mechanical and plant engineering, and the semiconductor industry  

- Dr. Martin Kleinschmitt elected as Chair of the Board of Directors and Martina Merz elected as Vice Chair  

Luxembourg, November 5, 2019. At today's meeting of the Board of Directors of SAF-HOLLAND S.A., Ingrid Jägering was appointed as a member of the Board of Directors and Chair of the Audit Committee with immediate effect.  

Ingrid Jägering is a full-time member of the Board of Directors and the CFO of the listed company LEONI AG, based in Nuremberg. Her areas of responsibility include Accounting, Controlling, Data Protection, Finance & Treasury, Information Management, Information Security, Internal Audit, Risk & Insurance and Taxes.  

Ingrid Jägering began her professional career in 1986 at Siemens AG, where she held various executive positions within the Group in Germany and abroad until 2012 (Siemens VDO Automotive in Auburn Hills/USA, Siemens Wind Power in Brande/Denmark, among others). In the period from 2012 to 2016, she held the role of Managing Director and CFO at various divisions of MAN Diesel & Turbo SE. She then served as the Managing Director, CFO, and Labour Director at OSRAM Semiconductors GmbH until July 2019.  

Dr. Martin Kleinschmitt, Chair of the Board of Directors, says: "We are very pleased to welcome Ingrid Jägering to our board. With her extensive industry background and financial expertise, she is the ideal new appointment to our Board of Directors. With her appointment, we are also fulfilling the recommendations of the German Corporate Governance Code and important international proxy advisers with respect to the appropriate number of independent members and the appointment of an independent member as the chair of the audit committee."  

Ingrid Jägering adds: "I look forward to using my knowledge and experience to support SAF-HOLLAND in this interesting and challenging phase of its corporate development."  

In the same meeting, Dr. Martin Kleinschmitt was elected as the new Chair of the Board of Directors. Dr. Kleinschmitt succeeds Martina Merz, who resigned from this position for personal reasons in September 2019 and has now been elected as Vice Chair.  

"I have been a member of the SAF-HOLLAND Board of Directors since March 2013 and its Vice Chair since April 2017. I look forward to serving as the Chair of the Board of Directors in the future," says Dr. Kleinschmitt. "On behalf of the entire board, I would like to thank Martina Merz for her excellent work. She has contributed significantly to the professionalization of our body's work since her appointment as Chair of the Board of Directors in April 2017. I am pleased that she will continue to support me with her wealth of experience as my Vice Chair. We will continue to tackle the upcoming tasks through constructive dialogue with the Group Management Board."  

Alexander Geis, CEO of SAF-HOLLAND comments: "We are very pleased that Dr. Kleinschmitt has assumed the office of Chair of the Board of Directors of SAF-HOLLAND S.A. Dr. Kleinschmitt is a seasoned expert in the areas of corporate management and financing. He is the best qualified to provide the Group Management Board with comprehensive advice."  

Dr. Kleinschmitt is both a banker and a lawyer. He studied law at the University of Berlin and then earned his doctorate at the Free University of Berlin. Between 1991 and 2000, he held various management positions at Herlitz AG and Herlitz Falkenhöh AG, most recently as Chief Financial Officer and Human Resources Officer of Herlitz AG. Since 2001 he has been a partner in the international law firm Noerr LLP and is a member of the Executive Board of Noerr Consulting AG, where he works as a consultant and interim manager in the areas of corporate finance and restructuring.  

About SAF-HOLLAND

SAF-HOLLAND S.A., located in Luxembourg, is the largest independent listed supplier to the commercial vehicle market in Europe delivering mainly to the trailer markets. With sales of approximately EUR 1,301 million in 2018, the Company is one of the world's leading manufacturers and suppliers of chassis-related systems and components primarily for trailers, trucks, buses, and recreational vehicles. The product range comprises axle and suspension systems, fifth wheels, kingpins, and landing gear marketed under the brands SAF, Holland, Neway, KLL, V.Orlandi and York. SAF-HOLLAND sells its products to Original Equipment Manufacturers (OEM) on six continents. The Group's Aftermarket business supplies spare parts to the service networks of Original Equipment Suppliers (OES), as well as to end customers and service centers through its extensive global distribution network. SAF-HOLLAND is one of the few suppliers in the truck and trailer industry that is internationally positioned in almost all markets worldwide. With the innovation campaign "SMART STEEL - ENGINEER BUILD CONNECT" SAF-HOLLAND combines mechanics with sensors and electronics and drives the digital networking of commercial vehicles and logistics chains. More than 4,000 committed employees worldwide are already today working on the future of the transportation industry.  

Contact

Michael Schickling Head of Investor Relations and Corporate Communications Tel: +49 (0) 6095 301 617michael.schickling@safholland.de

Future-oriented statements

This press release contains certain future-oriented statements that are based on current assumptions and forecasts made by the management of SAF-HOLLAND S.A. Various known and unknown risks, uncertainties and other factors may lead to the actual results, financial position, development or performance of the company deviating considerably from the appraisals specified here. The company assumes no obligation to update future-oriented statements of this nature or adapt them to future events or developments.

Notes

This announcement is for information purposes only and does neither constitute an offer to sell, purchase, exchange or transfer any securities nor a solicitation of any offer to sell, purchase, exchange or transfer any securities. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") and may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. SAF-HOLLAND S.A. does not intend to register any securities referred to herein under the Securities Act or with any securities regulatory authority of any state or other jurisdiction in the United States in connection with this announcement.

Contact: SAF-HOLLAND Group Michael Schickling Hauptstraße 26 63856 Bessenbach Phone +49 6095 301-617 michael.schickling@safholland.de

05.11.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

Language: English Company: SAF-HOLLAND S.A. 68-70, boulevard de la Pétrusse L-2320 Luxembourg

Luxemburg Phone: +49 6095 301 - 0 Fax: +49 6095 301 - 260 E-mail: ir@safholland.de Internet: www.safholland.com ISIN: LU0307018795 WKN: A0MU70 Indices: SDAX Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange EQS News ID: 904639   End of News DGAP News Service

904639  05.11.2019 

@ dgap.de