DGAP-News

Thomas Mayer appointed new CEO of MIFA from 1 October 2014 - Audit of 2013 annual financial statements about to be concluded

DGAP-News: MIFA Mitteldeutsche Fahrradwerke AG / Key word(s): Change
of Personnel/Final Results
Thomas Mayer appointed new CEO of MIFA from 1 October 2014 - Audit of
2013 annual financial statements about to be concluded

18.09.2014 / 23:17

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Thomas Mayer appointed new CEO of MIFA from 1 October 2014 - Audit of 2013
annual financial statements about to be concluded

Sangerhausen, 18 September 2014 - The Supervisory Board of MIFA
Mitteldeutsche Fahrradwerke AG (WKN A0B95Y, ISIN DE000A0B95Y8, "MIFA") has
appointed business and industry expert Thomas Mayer (56) to be a member of
MIFA's Management Board as well as its CEO for a three-year period with
effect as of 1 October 2014. Mr. Mayer's future Management Board
responsibilities comprise the areas of strategy, sales and marketing,
finance and controlling, legal, IT and human resources, and public
relations. As a consequence, he is also assuming the Management Board
responsibilities of former CEO Hans-Peter Barth, whom the Supervisory Board
has today recalled from office.

Future MIFA CEO Thomas Mayer holds a degree in business studies, and has
extensive experience as a management board member and managing director of
international operating companies in the areas of wholesaling, retailing
and services as well as industrial companies. As part of numerous past
mandates, he has reoriented both strategic business units and entire
companies. Thanks to Mayer's sales and financial expertise, and his
business competences, the Supervisory Board expects this personnel decision
to provide a further decisive impulse to lead MIFA onto a stable and
sustainable growth path. With a look to the future orientation of its
product range, MIFA can benefit particularly from Mayer's rich experience
in the marketing of consumer goods.

As a consequence, the Supervisory Board regards Mayer's appointment as an
important step for the company's future: "MIFA's financial restructuring is
proceeding well, and approaching its successful conclusion. A firm
foundation consequently exists to successfully push ahead with our
industrial reorganisation and realignment in a concentrated manner. We are
optimistic Thomas Mayer will deliver important impulses to this end."

MIFA had already published its 2013 results on 17 September. These are
being erroneously referred to overall as "subject to change and unaudited".
In fact, the 2013 separate annual financial statements and management
report have been prepared on a finalised basis, and are being audited by
the auditor of the annual financial statements Mittelrheinische Treuhand