Progress-Werk Oberkirch AG: Change in the Management Board of PWO AG

EQS-News: Progress-Werk Oberkirch AG / Key word(s): Personnel
Progress-Werk Oberkirch AG: Change in the Management Board of PWO AG
11.04.2023 / 15:30 CET/CEST
The issuer is solely responsible for the content of this announcement.

Oberkirch, April 11, 2023 - In December 2022, the Supervisory Board of PWO AG had offered Dr. Cornelia Ballwießer, member of the Executive Board and CFO of PWO AG since November 1, 2020, to extend her contract, which expires on October 31, 2023, by 5 years. At the end of January 2023, Dr. Ballwießer informed the Supervisory Board that she did not wish to renew her contract for private reasons and would like to terminate it early by mutual agreement if possible, in order to be able to take up a position in the Munich area in the future.

The Supervisory Board of PWO AG noted this with great regret but showed understanding for this decision for private reasons.

On April 5, 2023, the Supervisory Board unanimously decided to comply with Dr. Ballwießer's request to resign from her position as of June 30, 2023, and to terminate her employment contract by mutual agreement as of the same date.

The Supervisory Board would like to thank Dr. Ballwießer for her great commitment and her very successful work to date and wishes her all the best for the future.

By unanimous resolution on the same day, the Supervisory Board of PWO AG appointed Dipl.-Kfm. Jochen Lischer, authorized signatory and Head of Finance and Controlling at PWO AG, to succeed Dr. Ballwießer as a member of the Executive Board and CFO of PWO AG with effect from July 1, 2023 until June 30, 2026.

The Supervisory Board wishes Jochen Lischer every success in his new position.

Progress-Werk Oberkirch AG
The Executive Board

Charlotte Frenzel

Investor Relations & Corporate Communications
T. +49 179 / 6904 237


PWO Group profile

We are a global company in the mobility industry, and regard ourselves as an engineering house that takes the lead in shaping the environmentally friendly mobility of the future through innovations and is entirely independent of combustion engines.

With our expertise in climate-friendly lightweight construction, we are technology leaders, and combine economic efficiency with sustainability. We develop and produce sophisticated metal components and complex subsystems at the frontiers of what is technologically possible.

As a serious employer with informal structures at a global level, we are home to 3,000 employees at 8 locations on 3 continents.

Our actions are driven by inner motivation and conviction, which is why sustainability is one of the core values of our Group.

We see the need to meet the challenges of our time with innovative and sustainable concepts. But most of all, we aim to take the related opportunities.

Our corporate strategy is summed up in the slogan PEOPLE. PLANET. PROGRESS.

11.04.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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