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STS Group AG appoints Mathieu Purrey as new Management Board Member

2020| Jul| 08
Financial News

DGAP-News: STS Group AG / Key word(s): Personnel
08.07.2020 / 11:47
The issuer is solely responsible for the content of this announcement.

STS Group AG appoints Mathieu Purrey as new Management Board Member

Hallbergmoos/Munich, 8 July 2020. STS Group AG (ISIN: DE000A1TNU68), a global system supplier for the automotive and commercial vehicle industry, listed in the Prime Standard of the Frankfurt Stock Exchange, has appointed Mathieu Purrey to the company's Management Board with effect from 3 July 2020. Mr. Purrey succeeds Andreas Becker as sole member of the Management Board.

"We are delighted to have found a renowned successor in Mathieu Purrey, who has a wide experience in several management functions in the automotive industry," says Dr. Wolf Cornelius, Chairman of the Supervisory Board of STS Group AG.

This prompt decision enables a rapid transition of the Company Management. STS Group gains a renowned industry expert in Mathieu Purrey. Mr. Purrey knows the STS Group from his own experience and was Chief Purchasing Officer (CPO) for a total of nine months during a transition phase in 2017 and 2018.

"I would like to thank the Supervisory Board for the trust it has placed in me. First of all, we need to carefully analyse the situation in order to make responsible and sustainable decisions in a very challenging environment and to ensure the Group's liquidity," says Mathieu Purrey.

In the course of the coronavirus pandemic, the Group has been undergoing a restructuring process that requires considerable cost-cutting measures. In addition to the operational measures, further efforts must be made to secure liquidity. Government-guaranteed loans have been obtained in France, and similar negotiations are underway for the activities in Italy.

About STS Group:
STS Group AG, (ISIN: DE000A1TNU68), is a leading system supplier to the automotive industry with a focus on solutions in the acoustics, thermal and structural engineering sectors. It employs more than 2,500 people worldwide and generated revenues of 362.8 mEUR in the financial year 2019. The STS Group ("STS") produces and develops plastic and acoustic components such as solid and flexible vehicle and aerodynamic trim, noise and vibration-damping materials, entire interior and exterior trim systems, as well as lightweight construction and battery components for electric vehicles at its 17 plants and four development centres in France, Italy, Germany, Poland, Mexico, Brazil, China and, in the future, also in the USA. STS is considered as a technology leader in the manufacture of special acoustic products, plastic injection moulding and components made of composite materials (Sheet Molding Compound - SMC). STS has a large global footprint with plants in four continents. The customer portfolio comprises leading international manufacturer of commercial vehicles, passenger cars and electric vehicles.

STS Group AG
Stefan Hummel
Head of Investor Relations
Zeppelinstrasse 4
85399 Hallbergmoos
+49 811 1244 9412

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08.07.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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