Rieter Board of Directors nominates new members

24 Mar '09

3 min read

The Board of Directors of Rieter Holding AG will propose four new members for election at the Annual General Meeting on April 29, 2009: Michael Pieper, This E. Schneider, Hans-Peter Schwald, and Peter Spuhler. All of these gentlemen represent industrial investors and companies with substantial holdings in the Rieter share capital.

The Rieter Board of Directors appreciates their readiness in such a difficult economic environment to take strategic responsibility for the Rieter Group through personal commitment on the Board. Erwin Stoller remains Chairman of the Board of Rieter. Dieter Spälti remains member of the Board and Jakob Baer stands for re-election to a second three-year term.

Michael Pieper is owner of the Franke Group (Aarburg), a globally active industrial corporation specializing in kitchen systems. He heads up this company as CEO. Via his holding company Artemis IV AG (Hergiswil), Michael Pieper owns 7.6 percent of the Rieter share capital.

This E. Schneider is Board delegate and CEO Forbo Group (Baar), a global leader in flooring, bonding and movement systems. Forbo holds more than 10 percent of the Rieter share capital. Hans-Peter Schwald, Partner with Staiger, Schwald & Partner Lawyers, Zurich, is a corporate lawyer with long-standing experience as board member with various industrial corporations, including the Stadler Group. Peter Spuhler is majority shareholder of Stadler Rail AG, an internationally active manufacturer of rail vehicles headquartered in Bussnang, Thurgau. He heads up this company as Chairman of the Board and CEO.

Via his finance company PCS Holding AG (Weiningen), Peter Spuhler holds about 17 percent of the Rieter share capital. All four of these candidates for election to the Board have extensive industrial experience. With their expertise in the strategic realignment of large corporations and in market globalization, they will certainly play an important role in shaping the future of Rieter.

Ulrich Dätwyler and Peter Wirth will not stand for re-election to the board on completing their term of office at the Annual General Meeting 2009. Ulrich Dätwyler has been a member of the Rieter Board of Directors since 1994, and vice-chairman since 2007.

During these fifteen years he has played a key role in Rieter Group development thanks to his long-standing industrial experience and international accounting know-how. Peter Wirth has been a board member since the year 2000. His expertise in global production strategies has benefited above all Rieter's strategic expansion in Asia. Rainer Hahn, board member since 1999, has decided to step down per date of the Annual General Meeting 2009.

His valuable services to Rieter during these ten years are largely attributable to his extensive know-how in the machine-building and automotive supply industries. The Board of Directors sincerely thanks these three departing members for their many years of service and outstanding commitment. This particular applies to the business year 2008, which involved some far-reaching decisions for the future of Rieter.

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