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Braas Monier appoints Georg Harrasser as CEO, completing the envisaged internal succession plan

DGAP-News: Braas Monier Building Group S.A. / Key word(s): Change of Personnel

2016-11-09 / 09:00
The issuer is solely responsible for the content of this announcement.

Braas Monier appoints Georg Harrasser as CEO, completing the envisaged internal succession plan

Luxembourg, 9 November 2016. Braas Monier Building Group, a leading global manufacturer and supplier of pitched roof products, chimneys and energy systems, announced today that Georg Harrasser (50), Chief Operating Officer (COO) of Braas Monier, has been appointed Chief Executive Officer (CEO) with immediate effect. He succeeds Pierre-Marie De Leener, who has held the CEO position on an interim basis since January 2016 and will henceforth focus on his role as Chairman of the Board of Directors of Braas Monier. Together with Matthew Russell, Chief Financial Officer (CFO), Georg Harrasser will form the Senior Management of Braas Monier. The Board of Directors thereby completes the envisaged internal succession plan, ensuring the highest degree of continuity at the top management level of Braas Monier.

The Board of Directors has also decided to appoint Georg Harrasser as a member of the Board of Directors by way of co-optation with immediate effect. The Board of Directors thus now consists of eight members, including the Chairman of the Board of Directors. All members are independent in regards to relations with larger existing or potential shareholders.

'Over the last months, Georg Harrasser has proven his strong strategic and performance oriented leadership as Group COO', said Pierre-Marie De Leener, Chairman of the Board of Directors of Braas Monier Building Group. 'He has established trustworthy relations with existing shareholders, potential investors and the Board of Directors while further strengthening existing ties to key customers and employees. He is shaping and evolving the culture of Braas Monier, which is anchored in a very rich heritage, to take into account future demands of all stakeholder groups and to intensify its participative nature. Together with Matthew Russell, he will form an excellent and highly capable leadership team.'

'Braas Monier is a great company, strongly positioned financially and operationally for any market recovery. Over the recent years, our employees have achieved meaningful improvements in earnings and cash flows and a significant reduction of net debt. Thereby we created an excellent base for our growth strategy, which, in my new role, I intend to drive forward at full pace with my colleagues in the regional management teams', said Georg Harrasser, CEO of Braas Monier Building Group. 'We will continue to push organic growth through market penetration, introducing new roof products, adding new services, as well as addressing new markets. As CEO, I will also seek to enhance our non-organic growth by acting as consolidator in our markets and expanding into new geographies.'

About Georg Harrasser

Georg Harrasser (50) started his career at Braas Monier in 1993 and has since held various positions in quality management, plant management and as Industrial Director for concrete and clay tiles as well as CEO positions of Monier Italy and Asia Pacific. Since early 2013, he has been Regional President of the Group's Central, Northern & Eastern European region, which in 2015 generated revenues of EUR 430 million and an Operating EBITDA of EUR 72 million. He became COO of Braas Monier Building Group in January 2016. Georg Harrasser graduated from the Technical University Munich with degrees in Mechanical Engineering and Business Management.

About Braas Monier

Braas Monier Building Group is a leading manufacturer and supplier of pitched roof products in Europe, parts of Asia and South Africa. The Group covers all steps of the manufacturing process, offering a comprehensive range of concrete and clay tiles for pitched roofs and is one of the few suppliers to also manufacture and sell complementary roofing components designed to cover various functional aspects of pitched roof construction. The portfolio also includes ceramic and steel chimneys and energy system solutions. Braas Monier had operations in 36 countries and 120 production facilities and employed 7,911 people as at 30 September 2016. The Company is headquartered in Luxembourg.


Achim Schreck
Director Group Communications / Investor Relations
Braas Monier Building Group

Tel: +49 6171 61 28 59

2016-11-09 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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