Germany: Tognum Supervisory Board Gets New Members

Germany - Tognum Supervisory Board Gets New Members

The Supervisory Board of propulsion and energy systems specialists Tognum has four new members. All shareholder representatives now come from majority shareholders Rolls-Royce and Daimler, which hold 98.8% of Tognum’s capital through Engine Holding GmbH. The resulting composition of the Supervisory Board reflects the changed ownership structure following the takeover by Rolls-Royce and Daimler.

Ulm Local Court appointed John Paterson, Andrew Heath and Dr. Michael Haidinger from Rolls-Royce and Stefan Buchner from Daimler as new members of the Supervisory Board. Andreas Renschler was elected Chairman of the Supervisory Board, of which he has been a member since 2008. The term of appointment of all shareholder representatives of the Supervisory Board ends at the next Tognum Annual General Meeting when there is a regular election for all respective positions.

The new Supervisory Board members from Rolls-Royce bring with them expertise in marine, energy and power systems as well as know-how in the German market: John Paterson is President Marine and Industrial Power Systems at Rolls-Royce. Andrew Heath is President Energy at Rolls-Royce and Dr. Michael Haidinger is President Rolls-Royce Deutschland and President Civil Small & Medium Engines.

With Stefan Buchner, another senior executive of Daimler Trucks will join the Tognum Supervisory Board. Buchner is Head of Global Powertrain, Procurement and Manufacturing Engineering Trucks. He takes his place alongside existing Supervisory Board members Andreas Renschler, Member of the Board of Management of Daimler AG and Head of the Daimler Trucks Division, and Dr. Edgar Krökel, Daimler Vice President Mergers & Acquisitions and Corporate Real Estate.

The previous Tognum Supervisory Board members Rolf Eckrodt, Sune Karlsson, Dr. Cletus von Pichler and Axel Arendt have stepped down from the Supervisory Board.

[mappress]

Source: Tognum, October 27, 2011