GERMANY - Dr.-Ing. Herbert Müller, CEO and Chairman of the Management Board of the Surteco Group, has asked the Supervisory Board to prematurely terminate his service agreement expiring on 30 June 2021 in the course of 2019.

The Supervisory Board regrettably complied with this request at its meeting on 19 December 2018 while expressing its profound gratitude for Dr. Müller’s services to the Company for more than 30 years.

For his replacement, in the same of December 19 meeting, the Supervisory Board of the Company approved the execution of a service agreement as director with Mr. Wolfgang Moyses, MBA. Mr. Moyses is currently Chairman of the Executive Board of Simona AG and member of the Supervisory Board of Surteco Group SE. He is to be appointed Chairman of the Executive Board of Surteco Group SE with effect from 1 November 2019 or, if possible, from an earlier date for a term of office of five years. Mr. Moyses will resign from his office of member of the Supervisory Board of the Company prior to the beginning of his term of office as Chairman of the Executive Board.

Müller took over as CEO in mid-2015 from Friedhelm Päfgen, who had retired due to age. This succession arrangement had already been made in December 2014.