Cicor simplifies organization – Personnel changes

Wed, 17 Aug 2016

Cicor (SIX Swiss Exchange: CICN), a leading international high-tech industrial group in the field of printed circuit boards, microelectronics and electronic solu- tions based in Boudry (Switzerland), is reshaping its management structure by moving to a simpler, more customer-oriented structure and reduced complexity with the goal to create a framework for enhanced future success. With this new organization, the Cicor Group posi- tions itself for long term success and sustainable organic growth. In the new organization the positions of Head of Divisions AMS and ES are dissolved. In addition, the Board of Directors is announcing today that Alexander Hagemann has been appointed as Chief Executive Officer (CEO) per 1 September 2016. The current CEO will leave the Cicor Group.

Changes in the Group Management / New CEO Alexander Hagemann

The Cicor Group Management is changing. The CEO, Dr. Jürg Dübendorfer, the Head of the Division Advanced Microelectronics & Substrates (AMS), Jürgen Steinbichler, and the Head of the Division Electronic Solutions (ES), Erich Trinkler, will all leave the Cicor Group.

The newly appointed CEO, Alexander Hagemann, will join Cicor on 1 September 2016. Mr. Hagemann has profound experience in the operational management and has a well proven track record in setting up and growing businesses, especially in the Asian and North American markets, which are of particular importance for the Cicor Group. From March 2007 to July 2016 he was CEO at Schaffner Group. Earlier in his career Alexander Hagemann has been Executive Vice President for the Optics for Devices business segment at the globally active Schott Group and he also took up a post at BMW in the field of production and logistics.

Until 1 September 2016 Patric Schoch, CFO of the Group, will take over as CEO ad interim.

New Leadership Team

As new management structure a Leadership Team has been appointed, comprising of CEO, CFO and the Sales-, Technology- and Production responsibles of the Cicor Group. With this change the market experience and the operational skills of the extended Group Management are put on a broader base.

"With the formation of a highly experienced and strong leadership team with a broad operational understanding, Cicor accelerates its decision-making and implementation - for the direct benefit of our customers and to promote our own, faster development", says the Cicor Chairman Heinrich J. Essing.

Reducing complexity and clear responsibilities

Today’s communicated changes are a turning point for Cicor. The new structure meets the high expectations of customers, employees and shareholders.

The new management structure is more flexible, creating a shorter connection between the Group Management, the legal entities and the employees. The Group companies and their employees have all the necessary freedom to develop their business within a clearly defined framework and based on a unified vision for the entire Cicor Group.

From this more direct organization and management structure, Cicor also expects clearer responsibilities, more efficient processes, more direct communication and stronger customer focus and customer proximity. Abandoning complex matrix organizations and the direct involvement of the company leaders will have a positive effect on the success of the Cicor Group.

"Cicor is a healthy company with excellent employees around the globe and an excellent technology portfolio. I count on everybody working together for our future success," says Heinrich J. Essing.

The Cicor Group will continue to offer the right solutions and services and to support its customers with innovative technologies and outsourcing possibilities, globally and locally.

Contact

Heinrich J. Essing
Chairman of the Board
Tel. +41 43 811 44 05
Email: media@remove-this-text.cicor.com

Patric Schoch
CFO
Tel. +41 43 811 44 05
Email: media@remove-this-text.cicor.com

Cicor Management AG
Leutschenbachstrasse 95
8050 Zürich Schweiz