Change of leadership at holding level

Press Release

23. July 2015 The Shareholder Committee would like to announce a leadership change at holding level. Christoph Michel, Group CEO of GEA Heat Exchangers Group will leave us by mutual consent effective July, 31 2015. Michael Andersen, Group CFO of GEA Heat Exchangers Group will leave the organization by mutual consent no later than Q1 2016 to pursue an opportunity outside the group.

These changes in leadership on the holding level are a result of the Group’s reorganization into three separate segments within the GEA Heat Exchangers Group. The separation of the old GEA Heat Exchangers business has now been successfully executed and the respective operations are led by three independent Management Teams: Heat Exchanger Systems, Power Cooling Solutions and Air Treatment.

On behalf of all shareholders, Peter Grosch, Chairman of the Shareholder Committee of Heat Exchanger Systems, said: „We thank Christoph Michel and Michael Andersen for their work and contribution during the change of ownership and the reorganization into three separate segments.  The shareholders are especially grateful for the willingness of both to further support the businesses’ development. Christoph Michel will remain an advisor to the group.  Michael Andersen will continue as Group CFO until the beginning of 2016.  We will continue to deliver innovative products to our customers and to focus on improving our operational excellence, supported by the necessary resources to do so. Technological leadership and quality and continuity remain the main blocks of our strategy in all three segments”.

A management team consisting of the Heat Exchanger Systems business unit heads will take on the leadership of this segment together with Michael Andersen as speaker in the interim in close cooperation with the Shareholder Committee lead by Chairman Peter Grosch.

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Nicole Hückels
Nicole HückelsSenior Manager Press Relations and Trade FairsPhone: +49 234 980 2584Fax: +49 234 980 34 2584
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