ElringKlinger AG: Karl Schmauder steps down from his role as board member

DGAP-News: ElringKlinger AG / Key word(s): Change of Personnel2016-02-23 / 11:11The issuer is solely responsible for the content of this announcement.---------------------------------------------------------------------------Dettingen/Erms (Germany), February 23, 2016   +++ Karl Schmauder, member ofthe Management Board of ElringKlinger AG, stepped down from his role asManagement Board member with immediate effect. Mr. Schmauder had beenresponsible for Original Equipment Sales and New Business Areas.This step had been prompted by differences of opinion between Mr. Schmauderand the other members of the Management Board as to the futureorganizational and strategic alignment of the ElringKlinger Group. Infuture, the Management Board of ElringKlinger will again consist of threemembers. CEO Dr. Stefan Wolf will take over the area of "Original EquipmentSales" from Mr. Schmauder. "New Business Areas" will be overseen by TheoBecker, COO responsible for Production and Technology. Thomas Jessulat willremain responsible for the central functions of Finance/Controlling as wellas IT and the Industrial Parks division.Walter H. Lechler, Chairman of the Supervisory Board, emphasized: "We fullyrespect Mr. Schmauder for the consistency shown in making this decision. Hedeserves our sincere thanks. Mr. Schmauder was instrumental in propellingforward many valuable technical developments and innovations during his 34years of service within the ElringKlinger Group. At the same time, we asthe Supervisory Board are, on the whole, convinced that ElringKlinger'sstrategic positioning is also well judged and promising when it comes tothe future of this company. We as a corporate body support the routecharted by the Management Board.""We as the Management Board would also like to thank Mr. Schmauder for thesolid and constructive partnership established over recent years. Mr.Schmauder has made valuable contributions to develop ElringKlinger from agasket manufacturer to a globally leading technology group," said Dr.Stefan Wolf, Cief Executive Officer of ElringKlinger AG. "There aresituations in which differences of opinion can no longer be reconciled. Inthis case, it is in the interest and for the good of the company to set aclear course. I am pleased that we have reached an amicable agreement withMr. Schmauder. In consistently targeting efficient technologies geared tothe future and focusing on new drive systems as well as innovations beyondthe automotive industry, while remaining realistic about what can beachieved within the market, we have equipped ourselves well to tackle thechallenges that lie ahead."__________________________________________________________________________For further information, please contact:ElringKlinger AG Dr. Jens WinterInvestor Relations / Corporate PRMax-Eyth-Straße 272581 Dettingen/ErmsGermanyPhone +49 7123 724-88335Fax +49 7123 724-85 8335E-mail jens.winter@elringklinger.comAbout ElringKlinger AGElringKlinger has focused its efforts on developing forward-looking greentechnologies. These are designed not only to reduce CO2 emissions but alsoto scale back the level of harmful nitrogen oxides, hydrocarbons and sootparticles. ElringKlinger is one of the few automotive suppliers worldwidewith the capabilities of developing and producing high-tech components forall types of drive system - whether for downsized combustion engines or forelectric vehicles driven by batteries or fuel cells. Drawing on ourexpertise in lightweight engineering, we can make a decisive contributionto efforts aimed at further reducing vehicle weight and thus fuelconsumption. The company's portfolio centered around emissions reductionalso includes particulate filters and end-to-end exhaust gas purificationsystems used in ships, commercial vehicles, construction machinery andstationary engines as well as in power stations. This is complemented byproducts made of the high-performance plastic PTFE supplied byElringKlinger Kunststofftechnik, which are marketed to a wide range ofindustries - also to those operating beyond the vehicle manufacturingsector. Applying our abilities as an innovator, we are committed tosustainable mobility and earnings-driven growth. These efforts aresupported by our dedicated workforce of more than 7,900 people at 45ElringKlinger Group locations around the globe.---------------------------------------------------------------------------2016-02-23 Dissemination of a Corporate News, transmitted by DGAP - aservice of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements,Financial/Corporate News and Press Releases.Media archive at www.dgap-medientreff.de and www.dgap.de---------------------------------------------------------------------------   Language:    English                                                        Company:     ElringKlinger AG                                                            Max-Eyth-Straße 2                                                           72581 Dettingen/Erms                                                        Germany                                                        Phone:       071 23 / 724-0                                                 Fax:         071 23 / 724-9006                                              E-mail:      jens.winter@elringklinger.com                                  Internet:    www.elringklinger.de                                           ISIN:        DE0007856023                                                   WKN:         785602                                                         Indices:     MDAX                                                           Listed:      Regulated Market in Frankfurt (Prime Standard), Stuttgart;                  Regulated Unofficial Market in Berlin, Dusseldorf,                          Hamburg, Hanover, Munich; Terminbörse EUREX                          End of News    DGAP News Service