Sulzer Appoints Dittrich as Interim CEO

The Board of Directors of Sulzer was surprised to hear of Klaus Stahlmann's personal decision to step down as CEO of Sulzer AG. The Board of Directors acknowledges Mr. Stahlmann's contribution to Sulzer's realignment, but in the interests of maintaining clarity and focus on the management of the company it has released Mr. Stahlmann with immediate effect. The Board of Directors appointed the CFO of Sulzer, Thomas Dittrich, in addition to his duties as CFO to the Group’s interim CEO, also with immediate effect.

Thomas Dittrich, 51, holds Master of Science degrees in Mechanical Engineering (Dipl. Ing. Univ) as well as in Finance, Accounting, and Business Administration (HSG) and is Group CFO since August 2014. He has over twenty years of comprehensive experience in corporate finance, controlling and mergers and acquisitions working for global companies.

The Board of Directors has complete confidence in the Executive Committee under the interim leadership of Thomas Dittrich. It also remains fully committed to the ongoing Sulzer Full Potential programme, which aims to make Sulzer the world's leading equipment and service provider in its key markets oil and gas, power, and water. The Board of Directors is fully convinced that this programme will lead to more efficiency, less complexity, and higher profitability.

The search for a new CEO is being initiated. Information about this process will be provided in due course.