Prof. Dr. Jürgen Strube has decided to step down from his duties as Chairman of the Supervisory Board in order to facilitate continuity and invigoration of the Supervisory Board. This decision will be effective at the conclusion of the Shareholder’s Meeting on May 11, 2011. During his tenure of almost 8 years he oversaw the succession of the Chairman of the Executive Board, increased sales and earnings as well as the complete debt relief of the Group.
Prof. Dr. Bernd Gottschalk will also retire as a member of the Supervisory Board during the upcoming Shareholder’s Meeting in order to allow for the invigoration of the Supervisory Board. During his tenure of 15 years he actively followed sizeable acquisitions, the streamlining of the Group and the succession of the Chairman of the Executive Board.
At the upcoming Shareholder’s Meeting, the Supervisory Board will propose to elect Dr. Jürgen Hambrecht, Chairman and CEO of BASF SE, and Ines Kolmsee, Chairman and CEO of SKW Stahl-Metallurgie Holding AG, to the Supervisory Board of FUCHS PETROLUB AG. In the case of this election, the Supervisory Board intends to appoint Dr. Hambrecht as its Chairman. Once more FUCHS is able to attract an outstanding entrepreneur with global experience to become Chairman of its Supervisory Board.
Mannheim, December 13, 2010
FUCHS PETROLUB AG
Public Relations
Friesenheimer Str. 17
68169 Mannheim
Germany
Tel.: ++49 (0) 621 3802-1124
This press release can be accessed at the following web address:
www.fuchs-oil.com
Important note
This press release contains statements about future developments that are based on assumptions and estimates by the management of FUCHS PETROLUB AG. Even if the management is of the opinion that these assumptions and estimates are accurate, future actual developments and future actual results may differ significantly from these assumptions and estimates due to a variety of factors. These factors can include changes in the overall economic climate, changes to exchange rates and interest rates, and changes in the lubricants industry. FUCHS PETROLUB AG provides no guarantee that future developments and the results actually achieved in the future will agree with the assumptions and estimates set out in this press release and assumes no liability for such.