POLAND - On March 2, 2017, the Supervisory Board of Pfleiderer Group, one of the largest european manufacturers of wood based panels, appointed Mr. Thomas Schäbinger (53) as Chairman and CEO. Mr. Schäbinger will succeed Michael Wolff (56), and the change of management will take place on 1 July 2017.

Michael Wolff has been with Pfleiderer since 2004, initially as CEO of the former Western European division and since 2013 as CEO of the Pfleiderer Group. From 2010 onwards, he was responsible for the profound restructuring of the Pfleiderer Group, which led to a return to growth and profitability.

Since 2013, the Pfleiderer Group has achieved important operational and financial milestones, which led to the return to the stock market in 2016. Through the legal and operational merger of the operating units in Eastern and Western Europe, ONE PFLEIDERER was founded - a fully integrated group, one of the leading wood-based panel manufacturers in Europe.

Thomas Schäbinger, who joins Pfleiderer Group SA no later than July 1, 2017, will lead the group into the next phase of strategic development. Michael Wolff will continue to perform his functions until the end of June this year and enable a smooth transition to the top of the board.