Manz Automation AG: Supervisory Board extends contracts with the Managing Board and bids farewell to Otto Angerhofer as he enters retirement

Managing Board contracts with Martin Hipp and Volker Renz extended by three years in each case / Otto Angerhofer will retire from the company on July 31, 2009

(PresseBox) ( Reutlingen, )
The Supervisory Board of Manz Automation AG, one of the world's leading technology providers for the photovoltaic and LCD industries, has decided to extend the contracts with CFO Martin Hipp (until February 28, 2013) and COO Volker Renz (until April 30, 2013) ahead of time by three years in each case. At the same time, Otto Angerhofer, a long-standing member of the Managing Board, primarily responsible for the systems.aico division, will retire as of July 31, 2009. In order to ensure a smooth transition, he will continue to act as a consultant to the company. In future, the CEO Dieter Manz will take over Otto Angerhofer's tasks. It is not planned to re-staff this position on the Managing Board in the first instance.

The Chairman of the Supervisory Board, Dr. Jan Wittig, thanked Otto Angerhofer on behalf of the Managing and Supervisory Boards: "We would like to thank Otto Angerhofer for his personal commitment and his extraordinary work for our company. He played a key role in our company's growth and success, and he provided vital impetus with his ideas. Most recently, the successful integration of the acquired Christian Majer GmbH & Co. KG and the resulting new division for Li-ion batteries is primarily due to Mr. Angerhofer."

Martin Hipp (42) has been CFO since March 1, 2007 and is also responsible for HR and IT. Volker Renz (42), COO, has headed Procurement and Logistics as well as Production and Services since May 1, 2007. Both of these Board members' contracts would normally have expired in the spring of 2010. Dr. Jan Wittig explained this move: "In taking this step we are honoring the successful, foresighted work by the Managing Board, especially given the current economy. Together with the CEO Dieter Manz, the company thus has a wellestablished, stable management team to continue to maintain and further expand Manz Automation's market leadership."
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