Tecan initiates succession process for the Board of Directors

Tecan Group AG / Tecan initiates succession process for the Board of Directors . Processed and transmitted by Nasdaq Corporate Solutions. The issuer is solely responsible for the content of this announcement.

Männedorf, Switzerland, October 6, 2017 - The Tecan Group (SIX Swiss Exchange: TECN) announced today that a succession process for the Board of Directors has been initiated. Rolf Classon, born in 1945 and member of the Board and Chairman since 2009, and Gérard Vaillant, born in 1942 and member of the Board since 2004, will not stand for re-election at the ordinary Annual General Meeting on April 17, 2018. Dr. Lukas Braunschweiler and Dr. Daniel R. Marshak will be proposed for election as new members. As the successor of Rolf Classon, Dr. Lukas Braunschweiler will be proposed for election as Chairman of the Board of Directors.

Over the past few years, Tecan has undergone a process of positive development enjoying profitable growth above market average. Under the tenure of Dr. David Martyr, CEO since 2012, and a strengthened leadership team, Tecan has brought to market a number of new major instrument platforms. It has also increased recurrent revenues from consumables, today already contributing over 40% of total sales. Geographical expansion has been strongly pushed forward, with a particular focus on China. The core business was further strengthened through four company acquisitions and the divestment of a non-strategic business segment. Under the tenure of Rolf Classon as Chairman, Corporate Governance has also been strengthened by removing the registration and voting limitations in place, thereby making the Tecan share more attractive.

Rolf Classon commented: "Today Tecan is in solid shape and the foundations have been laid for many more years of strong development. Therefore, this is a good point in time to initiate a succession process for the Board of Directors. I am very happy that, with Lukas Braunschweiler and Daniel R. Marshak, two highly successful and experienced leaders will be proposed for election. I take the chance to wholeheartedly thank Gérard Vaillant for his contribution over many years as member of the Board and in his role as acting CEO in 2012."