EANS-Adhoc: RHI AG / Stefan Borgas appointed new CEO as of December 1, 2016 for five years

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Board of Directors (Appointments and Changes) 26.09.2016

At its meeting on September 26, 2016, the Supervisory Board of RHI AG appointed Mr. Stefan Borgas, Lic. Oec. (HSG) new CEO with effect from December 1, 2016. In order to enable an orderly handover of tasks, Dr. Wolfgang Ruttenstorfer will continue to be available as interim Chairman of the Management Board until November 30, 2016.

Mr. Franz Struzl will resign as member of the Management Board with the expiry of November 30, 2016 and act as a consultant to the company once he has fully recovered.

Having studied business management at the University of Saarbrücken and the University of St. Gallen, Stefan Borgas, 52, started his career in the chemical industry. After joining BASF, he held several management positions in the US, Germany and China and was responsible as Vice President for the business unit "Fine Chemicals" from 2002. In 2004, he was appointed CEO in the Management Board of the Swiss Lonza Group and transformed the company into a leading life science group. In 2012, he joined the special chemicals manufacturer Israel Chemicals Ltd. as President & CEO.

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(END) Dow Jones Newswires

   September 26, 2016 05:40 ET (09:40 GMT)- - 05 40 AM EDT 09-26-16