EQS-News

FRIWO AG announces changes in the Executive Board

EQS-News: FRIWO AG / Key word(s): Personnel/Miscellaneous FRIWO AG announces changes in the Executive Board 31.01.2024 / 13:00 CET/CEST The issuer is solely responsible for the content of this announcement. FRIWO AG announces changes in the Executive Board

• Oliver Freund joins the company as CFO as of 1 February 2024
• Predecessor Tobias Tunsch requests early termination of his Executive Board contract for personal reasons, but will remain with FRIWO in an advisory capacity
• Successful extension of the existing financing framework at the end of 2023

Ostbevern, 31 January 2024 – The Supervisory Board of FRIWO AG - an international manufacturer of technically leading chargers and e-drive solutions - has appointed Oliver Freund as a new member of the company's Executive Board and CFO (Chief Financial Officer) with effect from February 1, 2024. His responsibilities include Finance, Controlling, Accounting, Taxes, Purchasing, IT, Investor Relations and Sustainability. Oliver Freund succeeds Tobias Tunsch, who has asked the Supervisory Board to terminate his Executive Board contract prematurely for personal reasons. However, he will remain with the company in an advisory capacity. Under Tunsch's leadership, an extension of the existing financing framework was agreed with the company's banks at the end of the 2023 financial year, meaning that FRIWO can tackle its growth ambitions for the new financial year with a solid balance sheet structure. Oliver Freund complements herewith the existing Executive Board team.

"We are delighted that Oliver Freund, an internationally experienced finance and industry expert, has joined the FRIWO AG Executive Board. His addition supports FRIWO's successfully initiated strategic ambitions to become a leading global provider of system solutions. I very much regret Tobias Tunsch's departure from the Executive Board, but of course I respect his personal reasons for doing so. On behalf of my colleagues on the Supervisory Board, I would like to expressly thank him for his achievements for FRIWO in recent years. I would particularly like to emphasize his achievements in the financial stabilization of the Group and his activities in connection with the realization of the pioneering e-mobility joint venture in India," said Richard Ramsauer, Chairman of the Supervisory Board of FRIWO AG, commenting on the personnel changes.