Dr. Sergej Schwarz appointed member of the Executive Board of HOMAG Group AG

Schopfloch, December 8, 2021. The Supervisory Board of HOMAG Group AG has appointed Dr. Sergej Schwarz (49) to the Executive Board effective January 1, 2022. This means that it will consist of three members even after the retirement of the Chairman of the CEO, Ralf W. Dieter, on December 31, 2021: Dr. Daniel Schmitt as the new Chief Executive Officer, Rainer Gausepohl as Chief Financial Officer and Dr. Sergej Schwarz.

Schwarz joined the HOMAG Group back in 2016 as Head of the Edge Processing business unit. Since March of 2021, he has also been Spokesman of the Board of Management of HOMAG GmbH, Schopfloch, and Managing Director of HOMAG Kantentechnik GmbH, Lemgo. As a member of the Executive Board, he will in future be responsible for the global activities of the Edge Processing business unit and the project business with large-scale plants. In addition, he is responsible for the Indian location of the HOMAG Group.

Before joining the HOMAG Group, the graduate engineer held various management positions at Schaeffler AG in Herzogenaurach and Schweinfurt for many years, most recently as Vice President of the Renewable Energies sector.

Company Background

The HOMAG Group is the world's leading provider of integrated solutions for production in the woodworking industry and woodworking shops. Its 15 specialized production sites, about 20 Group-owned sales and service companies and approximately 60 exclusive sales partners worldwide make the company a unique system provider. Backed by a workforce of some 7,000 employees the HOMAG Group offers its customers solutions for digitized production, based on digital data continuity from point of sale through the entire production process, combined with a comprehensive software suite. In addition, the open ecosystem "tapio" (open Internet-of-Things platform) maps the data flow along the entire value chain of the timber industry. The HOMAG Group has been majority-owned by the Dürr Group since October 2014.

Disclaimer

This press release contains certain statements relating to the future. Future oriented statements are all those statements that do not pertain to historical facts and events or expressions pertaining to the future such as “believes”, “estimates”, “assumes”, “forecasts”, “intend”, “may”, “will”, “should” or similar expressions. Such future-oriented statements are subject to risks and uncertainty since they relate to future events and are based on current assumptions of the Company, which may not occur in the future or may not occur in the anticipated form. The Company points out that such future-oriented statements do not guarantee the future; actual results including the financial position and the profitability of the HOMAG Group as well as the development of economic and regulatory framework conditions may deviate significantly (and prove unfavorable) from what is expressly or implicitly assumed or described in these statements. Even if the actual results of the HOMAG Group including the financial position and profitability as well as the economic and regulatory framework conditions should coincide with the future-oriented statements in this press release, it cannot be guaranteed that the same will hold true in the future.

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