Till Reuter appointed new CEO of dormakaba

dormakaba Holding AG / Key word(s): Personnel Till Reuter appointed new CEO of dormakaba 05-Dec-2023 / 06:30 CET/CEST Release of an ad hoc announcement pursuant to Art. 53 LR The issuer is solely responsible for the content of this announcement. Ad hoc announcement pursuant to Art. 53 LR

Rümlang, 5 December 2023 – The Board of Directors of dormakaba has appointed Till Reuter as new CEO effective 1 January 2024. He will succeed Jim-Heng Lee, who will leave the company after ten successful years in various roles to return to his homebase. Till Reuter has broad industrial expertise and proven leadership skills to further develop dormakaba on its growth path and effectively execute its strategy and transformation program.

Till Reuter was CEO of Kuka AG from 2009 to 2018, a global automation corporation headquartered in Germany, which he successfully transformed from an automotive supplier to a high-tech robotic and digitization company, managing to quadruple revenues during his tenure. From 2014 to 2018, he also served as a Board member and Chairman for Swisslog Holding AG following its acquisition by Kuka. From 2017-2018, he was a Board member of the Bundesverband der Deutschen Industrie eV. With his proven leadership skills and international industrial and change management expertise, Till Reuter has excellent prerequisites to further develop dormakaba on its growth path and effectively execute the Shape4Growth strategy and its related transformation program.

Svein Richard Brandtzæg, Chair of dormakaba: “With Till Reuter, the Board has appointed an experienced leader and proven CEO for dormakaba. We are convinced that he brings the spirit and vigor we need to successfully drive the execution of our strategy and sustainable profitable growth in line with our mid-term targets.”

Till Reuter will succeed Jim-Heng Lee, who will return to Asia after ten years of service with dormakaba and two years as CEO based in Switzerland. “Jim-Heng Lee assumed the CEO role under challenging circumstances after successfully developing the company’s Asia Pacific business to a market leading position as President Asia Pacific since 2014. Since then, his leadership in setting up the ongoing Shape4Growth and transformation initiatives ensured that dormakaba is now on a clear path of sequential improvements”, says Svein Richard Brandtzæg. “Jim-Heng has expressed his desire to return to Asia after a suitable successor has been found, which is now the case. We owe Jim-Heng deep gratitude for his commitment and very valuable contributions and wish him all the best for the future.”