Dürr AG: Change in the Board of Management

Press Release Dec 10, 2019

Bietigheim-Bissingen, December 10, 2019 – The Supervisory Board of Dürr AG has appointed Dietmar Heinrich to the Board of Management with effect from August 1, 2020. The 56-year-old will replace the current CFO, Carlo Crosetto who, after three years, is due to leave Dürr in February, at his own request. Dietmar Heinrich is currently the CFO of automotive and industry supplier Schaeffler. He will form the Dürr AG Board of Management together with Ralf W. Dieter (Chairman), Pekka Paasivaara and Dr. Jochen Weyrauch. Dr. Jochen Weyrauch, who has been a member of the Board of Management since the beginning of 2017, has been appointed Deputy CEO at today’s Supervisory Board meeting.

Commenting on Dietmar Heinrich’s appointment, Karl-Heinz Streibich, Chairman of the Dürr AG Supervisory Board, states: “Mr. Heinrich has a wealth of experience in controlling and finance at an international company, with a focus on the automotive business. He has an excellent reputation in the capital market. We are delighted to welcome Mr. Heinrich to our company.”

“I look forward to this new, challenging role”, says Dietmar Heinrich. “The Dürr Group is in an excellent financial position and in good shape, even in a somewhat unsettled economy. Through a rigorous focus on cost and capital discipline, I would like to help further strengthen the company’s financial flexibility and thus ensure its ability to remain competitive.”

Dietmar Heinrich studied industrial engineering at the University of Karlsruhe. He started his professional career in October 1990 in the controlling department at Alfred Kärcher GmbH & Co. KG. In 1995 he joined the Schaeffler Group, where he has since had various leading and management positions in Germany and abroad. He worked as Regional CEO Europe from 2014 until August 2017, when he became CFO at Schaeffler AG.

At Dürr AG, Dietmar Heinrich will be responsible for the functions of Finance and Controlling, Investor Relations, Risk Management, Legal Affairs, Global Sourcing Non-Production Material and Corporate Social Responsibility.

Karl-Heinz Streibich thanked the current CFO, Carlo Crosetto, for his commitment: “Mr. Crosetto has turned Dürr into a pioneer of sustainability-oriented corporate financing. He has also initiated successful measures for the digital transformation of financial processes within the Group.”

Commenting on the appointment of Dr. Jochen Weyrauch as Deputy CEO, Karl-Heinz Streibich said: “Dr. Jochen Weyrauch has played a key role in shaping Dürr’s core business with the automotive industry, where he has paved the way for digitization, electromobility and sustainability. By appointing him Deputy CEO, the Supervisory Board has recognized his successful work.”

Press photos

Dietmar Heinrich portrait — **Dietmar Heinrich**
The new Chief Financial Officer of Dürr AG with effect from August 1, 2020

Karl-Heinz Streibich and Dietmar Heinrich — Karl-Heinz Streibich, Chairman of the Supervisory Board of Dürr AG, and Dietmar Heinrich, new Chief Financial Officer of Dürr AG

Dr. Jochen Weyrauch portrait — **Dr. Jochen Weyrauch**
Dr. Jochen Weyrauch has been appointed Deputy CEO by the Supervisory Board.

About Dürr

The Dürr Group is one of the world's leading mechanical and plant engineering firms with extensive expertise in automation and digitization/Industry 4.0. Its products, systems and services enable highly efficient manufacturing processes in different industries. The Dürr Group supplies sectors like the automotive industry, mechanical engineering, chemical, pharmaceutical and woodworking industries. It generated sales of € 3.87 billion in 2018. In October 2018, the Dürr Group acquired the industrial environmental technology business of US-based company Babcock & Wilcox, comprising the Megtec and Universal brands. Since then, it has around 16,500 employees and 108 business locations in 32 countries. The Group operates in the market with five divisions:

Paint and Final Assembly Systems: paint shops and final assembly systems for the automotive industry
Application Technology: robot technologies for the automated application of paint, sealants and adhesives
Clean Technology Systems: air pollution control, noise abatement systems and battery coating lines
Measuring and Process Systems: balancing equipment as well as assembly, testing and filling technology
Woodworking Machinery and Systems: machinery and equipment for the woodworking industry

Disclaimer

This publication has been prepared independently by Dürr AG/Dürr group (“Dürr”). It may contain statements which address such key issues as strategy, future financial results, events, competitive positions and product developments. Such forward-looking statements are subject to a number of risks, uncertainties and other factors, including, but not limited to those described in Dürr's disclosures, in particular in the chapter “Risks” in Dürr's annual report. Should one or more of these risks, uncertainties and other factors materialize, or should underlying expectations not occur or assumptions prove incorrect, actual results, performances or achievements of Dürr may vary materially from those described in the relevant forward-looking statements. These statements may be identified by words such as “expect,” “want,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “estimate,” “will,” “project” or words of similar meaning. Dürr neither intends, nor assumes any obligation, to update or revise its forward-looking statements regularly in light of developments which differ from those anticipated. Stated competitive positions are based on management estimates supported by information provided by specialized external agencies.

Our financial reports, presentations, press releases and ad-hoc releases may include alternative financial metrics. These metrics are not defined in the IFRS (International Financial Reporting Standards). Dürr's net assets, financial position and results of operations should not be assessed solely on the basis of these alternative financial metrics. Under no circumstances do they replace the performance indicators presented in the consolidated financial statements and calculated in accordance with the IFRS. The calculation of alternative financial metrics may vary from company to company despite the use of the same terminology. Further information regarding the alternative financial metrics used at Dürr can be found in our → financial glossary.