Swiss Steel Holding AG / CH0005795668

Changes in the Executive Board of Swiss Steel Group

Swiss Steel Holding AG / Key word(s): Miscellaneous


24-Jun-2024 / 07:00 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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Lucerne, 24 June 2024 – Following the successful completion of the recapitalization and refinancing, two important personnel changes are now taking place at Swiss Steel Group.

Marco Portmann has decided to leave Swiss Steel Group after more than 19 years for personal reasons. He was appointed to the Executive Board as Chief Financial Officer (CFO) in April 2022. Marco Portmann: “After a long, enriching and recently extremely intense time as CFO, I am now looking forward to taking professional steps outside the Group. I would like to thank my colleagues and especially CEO Frank Koch for the close and trustful collaboration under most difficult conditions." The Board of Directors of Swiss Steel Holding AG has appointed Thomas Löhr as the new CFO and member of the Executive Board of Swiss Steel Group as of June 24, 2024. Thomas Löhr has been CFO and Spokesman of the Management Board of the Swiss Steel Group subsidiary Deutsche Edelstahlwerke Services GmbH since November 2023. The relevant bodies will decide on his successor as CFO of Deutsche Edelstahlwerke Services GmbH shortly. Thomas Löhr has over 35 years of professional experience in the areas of finance, controlling, M&A, accounting, purchasing and IT, including 21 years in an owner-managed company in the German steel industry. During his 12 years there as CFO and member of the management board, he was responsible for several transformation programs and successfully implemented the resulting realignments. Thomas Löhr holds a degree in banking business administration. Jens Alder, Chairman of the Board of Directors of Swiss Steel Group: "On behalf of the Board of Directors, I would like to thank Marco Portmann for his many years of service and tireless commitment. He made a significant contribution to the successful implementation of the capital increase and the refinancing of Swiss Steel Group. We wish him all the best and every success for the future. In Thomas Löhr, we have been able to recruit a very experienced CFO for this key function. He was unanimously elected by the Board of Directors. Thanks to his extensive knowledge of the company, he will quickly and efficiently familiarize himself with his new role at Group level, which will ensure a smooth transition." Next step in the implementation of the SSG 2025 strategy program: an integrated sales organization for all three Divisions Swiss Steel Group is Europe's leading supplier of sustainably produced steels ("Green Steel") and is one of the most important producers in the European circular economy. Green steel is already being used in a wide range of industries and is making a significant contribution to the long-term decarbonization of entire sectors. Swiss Steel Group expects demand for green steel to rise in the long term due to the constantly increasing climate protection requirements for manufacturing companies. Swiss Steel Group is realigning its sales organization in order to consistently and fully exploit these market opportunities worldwide. A central component of this realignment is the bundling of the global sales network and the sales activities of the production entities under a single management. Following the successful completion of the recapitalization and refinancing, now is the right time to lay the foundations for future growth with a powerful sales organization. From July 1, 2024, Swiss Steel Group's sales will be managed by Chief Sales Officer (CSO) Patrick Lamarque d'Arrouzat, currently Chief Commercial Officer (CCO) for the Stainless Steel and Tool Steel Divisions of Swiss Steel Group. He will remain a member of the Executive Board. Dr. Florian Geiger, CCO for quality and engineering steels, has decided to take on new challenges and is leaving the company after more than ten years. Dr. Florian Geiger has been a member of the Executive Board since January 2022 and responsible for the results of the Engineering Steel Division. Previously, he was CEO of the Steeltec Business Unit and Vice President of Corporate Business Development. Dr. Florian Geiger: "After successfully building up the Engineering Steel Division, the time is right for me to leave the company. I would like to thank all my colleagues for the excellent cooperation and wish Swiss Steel Group all the best and every success in the further implementation of the strategy program." Frank Koch, CEO Swiss Steel Group: "I would like to thank Dr. Florian Geiger for his valuable work and support over the past years. He has played a key role in successfully implementing the divisional structure within the Group and developing a market- and customer-oriented strategy for the Engineering Steel Division. I wish him continued success in his future career. The realignment of our sales organization is a decisive step towards fully expanding Swiss Steel Group's market opportunities. The further development of our sales organization will enable us to respond even more specifically to the needs of our customers worldwide and further expand our leading position in sustainable steel production. I am delighted that Patrick Lamarque d'Arrouzat and his team will continue to drive forward our sales strategy. Its implementation will be crucial for our future growth." The new Executive Board of Swiss Steel Group under CEO Frank Koch will consist of Thomas Löhr, Chief Financial Officer (CFO), and Patrick Lamarque d'Arrouzat, Chief Sales Officer (CSO), from July 1, 2024.

For further information:
 
For media queries:
Anina Berger, [e-mail], [phone]
 
For analyst/investor inquiries:
Burkhard Wagner, [e-mail], [phone]


Media Release (PDF)

About Swiss Steel Group Swiss Steel Group with headquarters in Lucerne (Switzerland) is one of the world’s leading producers of special steel long products. Thanks to the exclusive use of steel scrap in electric arc furnaces, the Group is one of the most relevant companies in Europe in the circular economy and is among the market leaders in the field of sustainably produced steel - Green Steel. Swiss Steel Group has its own production and distribution entities in over 30 countries and, through its strong local presence, offers a wide range of individual solutions in the fields of engineering steel, stainless steel, and tool steel. Swiss Steel Group is listed on the SIX Swiss Exchange and generated a revenue of around EUR 3.2 billion in 2023 with approximately 8,800 employees. Forward-looking statements This document is not an offer to sell or a solicitation of offers to purchase or subscribe for shares. This document is not a prospectus within the meaning of the Swiss Financial Services Act and not a prospectus under any other applicable laws. Copies of this document may not be sent to, distributed in or sent from jurisdictions in which this is barred or prohibited by law. The information contained herein shall not constitute an offer to sell or the solicitation of an offer to buy any securities, in any jurisdiction in which such offer or solicitation would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any jurisdiction. The offer and listing of any securities will be made solely by means of, and on the basis of, a prospectus which is to be approved by the competent review body and published. This document constitutes advertising in accordance with article 68 of the Swiss Financial Services Act. Such advertisements are communications to investors aiming to draw their attention to financial instruments. Any investment decisions with respect to any securities should not be made based on this advertisement. A decision to invest in securities of Swiss Steel Holding AG should be based exclusively on the prospectus published by Swiss Steel Holding AG (the "Company") for such purpose. Copies of such prospectus (and any supplements thereto) are available free of charge from UBS AG (email: [e-mail]). In addition, copies of such issue and listing prospectus (and any supplements thereto) are available free of charge in Switzerland from Swiss Steel Holding AG, Landenbergstrasse 11, 6005 Lucerne, Switzerland (email: [e-mail]). This document is not for publication or distribution in the United States of America (including its territories and possessions, any State of the United States and the District of Columbia), Canada, Japan or Australia or any other jurisdiction into which the same would be unlawful. This document does not constitute an offer or invitation to subscribe for or purchase any securities in such countries or in any other jurisdiction into which the same would be unlawful. In particular, the document and the information contained herein should not be distributed or otherwise transmitted into the United States of America or to publications with a general circulation in the United States of America. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or the laws of any state and may not be offered or sold in the United States of America absent registration under or an exemption from registration under the Securities Act. There will be no public offering of the securities in the United States of America. The information contained herein does not constitute an offer of securities to the public in the United Kingdom. No prospectus offering securities to the public will be published in the United Kingdom. In the United Kingdom this document is only directed at persons who (i) are qualified investors and who are also (ii) investment professionals falling within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "FSMA Order"); (iii) persons falling within Articles 49(2)(a) to (d), "high net worth companies, unincorporated associations, etc." of the FSMA Order and (iv) persons to whom an invitation or inducement to engage in investment activity within the meaning of Section 21 of the Financial Services and Markets Act 2000 may otherwise be lawfully communicated or caused to be communicated (all such persons together being referred to as "relevant persons"). The securities are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents. In any member state of the European Economic Area (each a "Relevant State") this document is only addressed to qualified investors in that Relevant State within the meaning of the Prospectus Regulation. This publication may contain specific forward-looking statements, e.g. statements including terms like "believe", "assume", "expect", "forecast", "project", "may", "could", "might", "will" or similar expressions. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, financial situation, development or performance of Swiss Steel Holding AG and those explicitly or implicitly presumed in these statements. Against the background of these uncertainties, readers should not rely on forward-looking statements. Swiss Steel Holding AG assumes no responsibility to up-date forward-looking statements or to adapt them to future events or developments. Except as required by applicable law, Swiss Steel Holding AG has no intention or obligation to update, keep updated or revise this publication or any parts thereof (including any forward-looking statement) following the date hereof. Neither the manager nor any of its subsidiary undertakings, affiliates or any of their respective directors, officers, employees, advisers, agents, alliance partners or any other entity or person accepts any responsibility or liability whatsoever for, or makes any representation, warranty or undertaking, express or implied, as to the truth, accuracy, completeness or fairness of the information or opinions in this announcement (or whether any information has been omitted from the announcement) or any other information relating to the group, its subsidiaries or associated companies, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available or for any loss howsoever arising from any use of this announcement or its contents or otherwise arising in connection therewith. Accordingly, the manager and the other foregoing persons disclaim, to the fullest extent permitted by applicable law, all and any liability, whether arising in tort or contract or that they might otherwise be found to have in respect of this announcement and/or any such statement.

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End of Inside Information

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Language:	English
Company:	Swiss Steel Holding AG
	Landenbergstrasse 11
	6005 Luzern
	Switzerland
Phone:	[phone]
E-mail:	[e-mail]
Internet:	www.swisssteel-group.com
ISIN:	CH0005795668
Listed:	SIX Swiss Exchange
EQS News ID:	1931045

End of Announcement	EQS News Service

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1931045  24-Jun-2024 CET/CEST