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GEA Group Aktiengesellschaft: GEA extends contract of CEO Stefan Klebert until 2026

DGAP-News: GEA Group Aktiengesellschaft / Key word(s): Personnel GEA Group Aktiengesellschaft: GEA extends contract of CEO Stefan Klebert until 2026 (news with additional features) 10.02.2021 / 10:00 The issuer is solely responsible for the content of this announcement. PRESS RELEASE

GEA extends contract of CEO Stefan Klebert until 2026

Düsseldorf, February 10, 2021 - At its meeting yesterday, the Supervisory Board of GEA Group Aktiengesellschaft extended the contract of CEO Stefan Klebert (55) by five years until December 31, 2026.

"Over the last two years, Stefan Klebert has led GEA back to a more successful path through targeted measures, highlighting the Group's great potential for sustainable and profitable growth," said Dr. Helmut Perlet, Chairman of the Supervisory Board of GEA Group AG. "The Supervisory Board therefore expresses its fullest confidence in him and is pleased to be able to continue our extremely successful cooperation."

"I would like to thank the Supervisory Board for the trust they have placed in me," commented Stefan Klebert, CEO of GEA Group AG. "GEA is a fantastic company with a compelling outlook for the future. I look forward to continuing to shape the company's successful transformation."

Shortly after Stefan Klebert took over as CEO in 2019, GEA initiated and consistently implemented several projects to improve efficiency. These initiatives, along with the short-term measures to manage the effects of the COVID-19 pandemic, have played a decisive role in ensuring that for the fiscal year 2020, GEA will again achieve significant gains in EBITDA before restructuring measures and the corresponding margin. In particular, the new organizational structure introduced in January 2020 has proven its worth by placing more revenue responsibility and decision-making power in the hands of local management.

Stefan Klebert became CEO in February 2019 and has been a member of the Executive Board since November 2018. On the Executive Board, he is responsible for all five divisions as well as the regions & country organizations. In this role, he also performs the function of Labor Director.