Changeover at aap Implantate AG: Bruke Seyoum Alemu appointed as new CEO
Ongoing transformation to a leading trauma company keeping management continuity
With today's successful completion of the sale of aap's Dutch subsidiary EMCM B.V., which is a consistent step in the strategy implementation towards a focused trauma company, the Supervisory Board in consultation with the Management Board has agreed to reduce the size of aap's Management Board from three to two members. In view of the above, current CEO Biense Visser and the Supervisory Board have agreed to terminate Mr. Visser's Management Board contract prematurely as of May 31st, 2014.
To maintain continuity, Mr. Visser is prepared to serve on aap Implantate AG's Supervisory Board provided that the necessary legal requirements are fulfilled. The company assumes that its majority shareholders will support Mr. Visser's move to the Supervisory Board and nominate him accordingly on the occasion of the upcoming annual shareholders meeting.
In a separate press release aap will report in detail regarding this change.
This release may contain forward-looking statements based on current experience, estimates and projections of the management board and currently available information. They are not guarantees of future performance. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. Many factors could cause the actual results, performance or achievements of aap to be materially different from those that may be expressed or implied by such statements. These factors include those discussed in aap's public reports. Forward-looking statements therefore speak only as of the date they are made. aap does not assume any obligation to update the forward-looking statements contained in this release or to conform them to future events or developments.
aap Implantate AG
aap is a global medical device company headquartered in Berlin, Germany that develops, manufactures and markets innovative biomaterials and implants that are used in orthopedic procedures. The Company's products, which include a full line of plating systems, cannulated screws and bone cement products, are primarily used in the orthopedic specialty areas of trauma and spine repair. The Company's products are sold through its direct sales force, distribution partners and license agreements with OEM partners. aap's stock is listed in the Prime Standard segment of the Frankfurt Stock Exchange. For more information, please visit www.aap.de, or download the Company's investor relations app from the Apple's App Store or Google Play.