05/09/2011

Marcus Ketter appointed new CFO of Schuler AG - Dr. Wolfgang Baur to retire at end of fiscal year

The Supervisory Board of Schuler AG today appointed Marcus Ketter (43) as the future Chief Financial Officer (CFO) of the Göppingen-based market leader in metalforming technology. As of October 1, 2011, Mr. Ketter will succeed Dr. Wolfgang Baur, who also announced today that he will step down from his position on the Board of Management at the end of fiscal year 2010/11 (September 30) and retire from the company on October 1, 2011.

Marcus Ketter is changing from the Essen-based ThyssenKrupp Group to Schuler AG. The acclaimed financial expert has held various management positions at ThyssenKrupp since 2003, the last of which was as Commercial Director and Chief Financial Officer of ThyssenKrupp Elevator (CENE) GmbH. As the operating unit for ThyssenKrupp’s elevator business in Central, Eastern and Northern Europe, ThyssenKrupp Elevator (CENE) employs around 11,000 employees and generates revenue of € 1.5 billion. Prior to joining the Essen-based technology group, the economics graduate and MBA holder spent several years as Vice President and Treasurer of Mattson Technology Inc. in California after working previously for the STEAG Group.

Dr. Wolfgang Baur has been a member of the Schuler AG Board of Management since February 2004 and is responsible for the Finance, Controlling, Investor Relations, HR, IT, Internal Audit and Law and Compliance divisions. The acquisition of Müller Weingarten AG, for example, was completed during his term of office. Together with his colleagues on the Board of Management, he successfully guided the company through the global economic crisis.

Chairman of the Supervisory Board Dr. Robert Schuler-Voith states: “During the past crisis, Wolfgang Baur displayed tremendous prudence and enjoyed outstanding success in securing the operational ability of Schuler AG with regard to its financial standing and balance sheet profile. The current healthy development of our company owes much to his efforts. The Supervisory Board would like to express its sincere gratitude for his exceptional commitment and dedication, as well as the high degree of loyalty and mutual trust we enjoyed during our cooperation. We wish him all the best for the next chapter in his life. I am delighted to announce that we have been able to find an internationally experienced financial expert in Marcus Ketter. He has made a name for himself with the implementation of profitability and efficiency programs and will succeed Dr. Baur as scheduled in the coming fiscal year.”

---