Change in management at Schaffner Group CEO Alexander Hagemann leaves Schaffner – CFO Kurt Ledermann to serve as interim CEO

Luterbach, 15 July 2016 – Alexander Hagemann, Chief Executive Officer (CEO), is leaving Schaffner to take on new challenges outside of the company.

Kurt Ledermann, Chief Financial Officer (CFO) of the Schaffner Group, is taking over as CEO ad interim with immediate effect. He will be supported in his role as CFO by his deputy of many years, Christian Herren, Head Corporate Finance & Accounting. For the time being, the Schaffner Group's Executive Committee will consist of Kurt Ledermann, CEO a.i. / CFO; Ah Bee Goh, Chief Operating Officer; and Guido Schlegelmilch, Executive Vice President / Head of the EMC division.

Kurt Ledermann, 48, has been CFO of the Schaffner Group since 2008. He holds degrees in Electrical Engineering from Federal Institute of Technology (ETH) Zurich and in Economics from the University of St. Gallen (HSG). Before becoming CFO, he held various positions, including as Executive Vice President Finance & IT at RUAG Aerospace and Head Finance & Accounting with the Schaffner Group.

The Board of Directors would like to thank Alexander Hagemann for more than nine years of dedication and great commitment, during which he helped to shape the development of Schaffner, in particular the realignment of the Group as well as its successful internationalization, and wishes him all the best for the future.

Photo Kurt Ledermann: www.schaffner.com/media/pictures/management/

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