Bystronic AG

Alex Waser elects to retire as Bystronic CEO - Domenico Iacovelli named successor

Bystronic AG / Key word(s): Personnel Bystronic AG: Alex Waser elects to retire as Bystronic CEO - Domenico Iacovelli named successor 31-Jan-2024 / 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.

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Alex Waser elects to retire as Bystronic CEO - Domenico Iacovelli named successor

Zurich, January 31, 2024 — Long-time Bystronic CEO Alex Waser has elected to retire as CEO. He will be succeeded by Domenico Iacovelli, who will assume the role of CEO, effective July 1, 2024.

Under Waser, Bystronic more than doubled its revenues in the last ten years. It grew organically and through strategic acquisitions, including China-based machine producer DNE and Spanish software company Kurago. Under Waser’s leadership, Bystronic has evolved from a company manufacturing sheet metal machines to a global full-solution provider in the sheet metal industry.

“I am proud of how Bystronic has evolved over the years,” said Waser. “Thanks to my incredible teams, I have enjoyed celebrating many successes with customers and our employees. I look forward to seeing my successor advance Bystronic further, and I wish him all the best.”

Iacovelli brings extensive management and leadership experience, having spent 13 of his 20 years in the sheet metal industry in CEO roles. In 2018 he was named CEO of Schuler AG and prior to that, CEO of Andritz Soutec. In April 2022, he was given additional responsibilities and named a member of the Executive Committee for ANDRITZ, as well as Head of Business Area Metals and Group Head of IT and Automation & Digitalization.

“Alex executed successfully on Bystronic’s growth strategy, expanded our global footprint and strengthened the company’s market offerings and services. We are grateful for his many contributions,” said Bystronic Board Chairman Heinz Baumgartner. “We look forward to supporting Domenico in his new role and ensuring a smooth transition. His industry knowledge and market experience will strengthen Bystronic and will be great assets as we continue to execute on our growth strategy.”