EQS-Adhoc

Conzzeta: Executive Committee to step down - Name change and appointment of Bystronic's management - Seite 2

With its "Strategy 2025", which was presented at the digital Capital Markets Day on November 10, 2020, Bystronic aims to grow at an accelerated and profitable pace, positioning itself even closer to the customer with new technical solutions and services. To ensure the stability required to implement the "Strategy 2025", the existing shareholder agreement will remain in place.

The new focus on Bystronic makes a name change appropriate, with the aim of positioning Bystronic as a modern, sustainably managed and future-oriented company. The Board of Directors of Conzzeta AG will therefore propose to the upcoming Annual General Meeting that Conzzeta AG be renamed Bystronic AG. Subject to shareholder approval and following official notification by the Swiss Stock Exchange, the company's listed registered shares will trade under the new ticker symbol BYS (but with the same Swiss security number and ISIN) beginning of May 2021.

Ernst Bärtschi, Chairman of the Board of Directors of Conzzeta: "On behalf of the Board of Directors of Conzzeta AG, I would like to thank the departing members of the Executive Committee of Conzzeta AG for their influential work, especially also during the challenging Group transformation with the successful divestment of several business units. It is mainly to their credit that, over the last few years, measures were developed and consistently implemented to strengthen the earnings potential and operational performance in all businesses while delivering above-average growth. At today's annual results' conference, I will have the opportunity to acknowledge their achievements. We wish all those involved every success for the future, particularly, of course, the new Bystronic, its management team and its over 3,000 employees."

Michael Willome, Conzzeta Group CEO: "It has been a great honor for me to lead Conzzeta as Group CEO since January 2016. In an initial phase, together with my colleagues on the Executive Committee and the management teams, we laid the foundations for rapid growth and improved profitability in all business units. In a second phase, we carried out a consequent assessment of our market positions and industrial logic in our very different areas of activity. This led to the decision to transform the Group, the completion of which is now imminent. I would like to thank Ernst Bärtschi as Chairman and the other members of the Board of Directors of Conzzeta AG, my colleagues on the Executive Committee, my team and all others involved in operations for their trust and the excellent and successful cooperation over the past years. The ability to realistically assess the own market situation as well as the willingness to courageously and consistently shape even far-reaching changes will open up new opportunities for everyone involved as they move forward."