Progress-Werk Oberkirch AG

Progress-Werk Oberkirch AG / Key word(s): Change of Personnel

30.01.2014 / 08:00

Press Release

Decision on Management Board Successor

Oberkirch, January 30, 2014 - As previously announced, after more than 20 very successful years with PWO, the Chief Executive Officer of PWO AG, Karl M. Schmidhuber (65), will leave the Management Board of the Company and retire upon the adjournment of the Annual General Meeting on May 21, 2014.

PWO AG's Supervisory Board has appointed Dr. Ing. Volker Simon (51) as his successor. He will join the Management Board of PWO AG no later than July 1, 2014. Dr. Simon will assume responsibility for the Market and Technology areas and accept the role of Speaker of the Management Board. Karl M. Schmidhuber, who was fully involved by the Supervisory Board in the search for his successor, as well as the entire Supervisory Board, are confident that Dr. Volker Simon with his long-standing experience in the automotive industry, will ensure business continuity aligned with the market and technology-oriented direction important to the Company, but also set the priorities necessary in the future for the increasingly dynamic development of the market environment.

Dr. Volker Simon studied mechanical engineering at the Technical Universities of Munich and Darmstadt and at Cornell University (USA) and received his doctorate in Darmstadt. He is an honorary professor at the University of Stuttgart and has more than 20 years of industry experience with a focus on the automotive supplier industry. In addition to management responsibilities in development and production, in the past 10 years, Dr. Simon has held senior positions in international sales and most recently in the management board of Isringhausen, where he was instrumental in the company's progression to its current market position.

Progress-Werk Oberkirch AG
The Management Board

PWO company profile
PWO is one of the world's leading developers and manufacturers of advanced metal components and systems in lightweight construction for automotive safety and comfort. The company has developed a unique knowledge in the forming and joining of metals over the course of its over 90-year history since it was founded in 1919. The German location at Oberkirch currently employs over 1,500 staff members. The Group is globally represented with further sites in Canada, the Czech Republic, China, and Mexico and employs around 3,100 staff members around the world.

PW0 is a partner to the global automotive industry for the development and production of innovative products in the divisions 'Mechanical components for electrical and electronic applications', 'Safety components for airbags, seats and steering' and 'Components and systems for vehicle bodies and chassis'.

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