DGAP-News

Wittur Holding GmbH: Walter Rohregger resigns as Wittur Group CEO

DGAP-News: Wittur Holding GmbH / Key word(s): Change of Personnel
Wittur Holding GmbH: Walter Rohregger resigns as Wittur Group CEO

25.02.2016 / 11:00
The issuer is solely responsible for the content of this announcement.

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PRESS RELEASE
ISIN: XS1188024548, XS1188025438

Walter Rohregger resigns as Wittur Group CEO

- Search for a successor already initiated

- Interim CEO Office in place

- Completion of Sematic Group acquisition remains well on track, closing
set for April 1, 2016

Wiedenzhausen, Germany, February 25, 2016 - The Wittur Group (ISIN:
XS1188024548, XS1188025438) announced today that with the imminent
finalization of the Sematic transaction, CEO Walter Rohregger has decided
in close coordination with the Supervisory Board to resign from his current
role to pursue other opportunities. The Group's Supervisory Board has
already initiated the search for a successor of Mr. Rohregger who will stay
affiliated with the Group in advisory role. In the meantime, a CEO Office
has been appointed to ensure operational continuity and a smooth
integration of the Sematic Group.

Mr. Rohregger commented: "I look back on a very satisfying time as CEO of
the Wittur Group. Wittur aims at being the leading global manufacturer of
components, modules and complete systems for the elevator industry. I am
proud to say that, together with my team, I have been successful in
executing this strategy which culminated in the transformational
acquisition of Sematic in mid-2015. The transaction follows a strong
strategic rationale and leaves Wittur better positioned for its future
development than ever before. With the closing of the deal due in only a
few weeks, it is now the right time for me to hand over responsibility to a
new management team that will oversee the integration phase as well as
Wittur's success story going forward."

The Supervisory Board of Wittur Group accepted Mr. Rohregger's decision and
emphasized that the Group highly appreciated the managers' valuable
contribution to the company's success in the past.

Michael Siefke, Chairman of the Wittur Group's Supervisory Board,
commented: "We would like to thank Walter for his efforts and dedication
over the past four years. Walter has done an excellent job in aligning the
company's strategic direction and shaping operational excellence. By
pushing forward the acquisition of Sematic, he clearly demonstrated
enormous foresight and laid the basis for Wittur to become a truly global
player in the industry. Although we regret Walter's decision, we can
understand that after four very demanding years he wants try something