MASTERFLEX – Technische Schläuche & Verbindungen


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MASTERFLEX – Technische Schläuche & Verbindungen

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MASTERFLEX – Technische Schläuche & Verbindungen
MASTERFLEX – Technische Schläuche & Verbindungen

Ad hoc-Relaese: Move at the top of Masterflex AG

Dr. Andreas Bastin new CEO - Masterflex AG with successful 2007 financial year: revenue: +19.8%, EBIT: +51.6%


Gelsenkirchen, Germany 18 March 2008. The CEO at Masterflex AG (ISIN DE0005492938), Detlef Herzog, requested the Supervisory Board in its meeting today not to extend his contract which runs out at the end of March.

One of the company founders and main shareholders of the company, Herzog (62) wants to take up new challenges in line with his life planning. However, should the Supervisory Board wish, he will remain available to Masterflex AG as a consultant or as a member of the Supervisory Board.

The Supervisory Board would like to thank Detlef Herzog for over 20 years of successful service at Masterflex AG. Since the beginning in 1987 he played a decisive role in building up what is today a globally operating listed company with almost 800 employees. The Supervisory Board would like to wish him all the best for the future.

The Masterflex AG Supervisory Board unanimously appointed Dr. Andreas Bastin as new CEO with effect from 1 April 2008. The engineer has been on the Masterflex AG Management Board since December 2006, most recently responsible for the key business area High-Tech Hose Systems, Medical Technology and Advanced Material Design.

Masterflex AG ended the 2007 financial year successfully. Group revenue improved by 19.8% to almost €139 million and Group EBIT by 51.6% to €15.4 million. Both figures were thus in the forecast corridor. For this reason, at the Supervisory Board Accounts meeting, it was resolved to propose the payment of a dividend of €0.80 to the Masterflex AG Annual General Meeting on 4 June 2008. The complete consolidated financial statements will be published on 31 March 2008.

IR-NewsAd-hoc AnnouncementsMasterflex Group