Pekka Paasivaara to take the helm as sole CEO of HOMAG Group AG

With effect as of August 31, 2015, Ralph Heuwing is stepping down as planned from HOMAG Group AG's management board, on which he has served as CEO since December 2014. Pekka Paasivaara, who had served as joint-CEO together with Heuwing since June 15, 2015, is thus taking over as sole CEO of HOMAG Group AG with effect as of September 1, 2015. Going forward, Ralph Heuwing will resharpen his focus on his role as CFO of Dürr AG.

In addition, he will join the supervisory board of HOMAG Group AG and take over its chairmanship from Ralf W. Dieter, CEO of Dürr AG. Ralf W. Dieter will, however, remain on the HOMAG Group's supervisory board.

Ralph Heuwing: “The HOMAG Group is on a favorable course having completed the process of integration into the Dürr Group. It is therefore a good time to hand over the helm to Pekka Paasivaara. He will drive forward the company's realignment under the ONE HOMAG guiding principle with full power and put it on a sustainable footing. As an active chairman of the supervisory board, I will continue to personally and closely accompany the HOMAG Group's development.”

Pekka Paasivaara: “I would like to express my gratitude to Ralph Heuwing for our productive collaboration, which we will build on. With his successful work, he has laid an excellent foundation for the coming changes in the HOMAG Group. Together with the management board team, I will drive forward and shape this process.”


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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