Changes in the ANDRITZ AG Executive Board

2021/07/29

At the end of the Annual General Meeting deciding on the discharge for the 2021 business year (scheduled for April 12, 2022), Wolfgang Leitner will end his functions on the ANDRITZ AG Executive Board – after 34 years of successful work there, thereof 27 years as President and CEO.

Consistent with the regulations of the Austrian Stock Corporation Act (exception to the cooling-off rule), it is planned to propose Wolfgang Leitner for election to the Supervisory Board of ANDRITZ AG at the upcoming ordinary Annual General Meeting 2022.

The nominations committee for the ANDRITZ AG Supervisory Board has decided to propose the following changes in the ANDRITZ AG Executive Board, which are to be presented to the members of the Supervisory Board for resolution at the regular meeting of the Supervisory Board on August 26, 2021.

As from April 2022, the new President and CEO of ANDRITZ AG will be Joachim Schönbeck, who has been a member of the ANDRITZ AG Executive Board since October 2014. During this period, Joachim Schönbeck made a substantial contribution towards the very successful development of the Pulp & Paper Capital Systems and the Metals Processing segments for which he has been responsible. Joachim Schönbeck will also continue to be responsible for the Pulp & Paper Capital Systems segment in his new function.

Domenico Iacovelli, who has held various management positions in the ANDRITZ GROUP since 2011 and has been chairman of the Schuler AG Executive Board since April 2018, will be appointed as a new member of the Executive Board of ANDRITZ AG as from April 2022. Domenico Iacovelli successfully adjusted the Schuler Group to the very challenging market conditions over the past few years and thus laid the foundation for positive development of the company. In addition to his tasks on the Executive Board of ANDRITZ AG for the entire Metals business area, Domenico Iacovelli will continue in his function as chairman of the Schuler AG Executive Board.

The other members of the ANDRITZ AG Executive Board shall remain unchanged.

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ANDRITZ GROUP
International technology group ANDRITZ offers a broad portfolio of innovative plants, equipment, systems and services for the pulp and paper industry, the hydropower sector, the metals processing and forming industry, pumps, solid/liquid separation in the municipal and industrial sectors, as well as animal feed and biomass pelleting. Plants for power generation, flue gas cleaning, recycling, and the production of nonwovens and panelboard complete the global product and service offering. Innovative products and services in the industrial digitalization sector are offered under the brand name Metris and help customers to make their plants more user-friendly, efficient and profitable. The publicly listed group has around 26,950 employees and more than 280 locations in over 40 countries.

Joachim Schönbeck

Domenico Iacovelli