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New Chairman for CEWE as of 1 July 2017

DGAP-News: CEWE Stiftung & Co. KGaA / Key word(s): Change of Personnel

2016-10-18 / 09:54
The issuer is solely responsible for the content of this announcement.


New Chairman for CEWE as of 1 July 2017

Oldenburg, 18 October 2016. Dr. Christian Friege is to take up office as Chairman of the Board of Management of Neumüller CEWE Color Stiftung on 1 July 2017. As an active general partner, Neumüller CEWE Color Stiftung conducts the business transactions of stock-exchange listed CEWE Stiftung & Co. KGaA. The operative business of the Group is pooled in CEWE Stiftung & Co. KGaA. Dr. Rolf Hollander (65) will retire from office to take effect on 30 June 2017 as scheduled, following his reaching the age limit applicable for CEWE. He will switch to the Board of Trustees of Neumüller CEWE Color Stiftung. The Board of Trustees appoints the Board of Management of Neumüller CEWE Color Stiftung.

Forward-looking succession plan
As a Director, Dr. Christian Friege (50) has been responsible for the company's national and international sales since 1 January 2016. Dr. Friege has a degree in Business Administration. His previous positions included Chairman of the Board of Management of LichtBlick AG (PLC), member of the Board of Management of Debitel AG and he worked for Bertelsmann in several national and international management positions. "Christian Friege, who has outstanding management skills, will be heading a strong, experienced Board of Management team," says Wilfried Mocken, Chairman of the Board of Trustees of Neumüller CEWE Color Stiftung. In this context, a forward-looking, sustainable at all levels succession plan would clearly be in line with the company's fundamental orientation. "With its competent, successful Board of Management team, the company is ideally positioned to continue to pursue the strategic line of development also after the new Chairman takes up office," emphasised Otto Korte, Chairman of the Supervisory Board of CEWE Stiftung & Co. KGaA.

Dr. Rolf Hollander will take over the leadership of the Board of Trustees as of 1 July 2017
At the same time, the Board of Trustees and the majority shareholder, the Neumüller joint heirs, have asked Dr. Rolf Hollander to become Chairman of the Board as of 1 July 2017. Wilfried Mocken (73), who has been Chairman of the Board of Trustees of Neumüller CEWE Color Stiftung, will be leaving the Board of Trustees as at 30 June 2017. The Board of Trustees thanks experienced entrepreneur Wilfried Mocken, whose positions included authorised representative with Semper idem Underberg GmbH, for his wise, forward-looking leadership of the Board of Trustees and his at all times business-like support for the Board of Management and the employees - in particular during the CEWE transformation phase.

Successful transformation under Dr. Hollander's leadership
Dr. Rolf Hollander has been with CEWE since 1986, since 1992 as a Director, since 2002 as Chairman of the Board of Management of CeWe Color Holding AG and since 2005 as Chairman of the Board of Management of Neumüller CEWE Color Stiftung. CEWE nor only successfully accomplished the transformation from analogue to digital photography under his leadership; since 2005 the CEWE PHOTO BOOK has established itself as the European market leader and pushed forward with the expansion of commercial online printing. The company's new growth segment reached the break-even point as early as in the first six months of 2016 - earlier than planned. The resolutely pursued market positioning has played a key role in the positive development of the company for more than 10 years now. Whereas CEWE was previously largely unknown as a brand name, the supported brand awareness of the CEWE PHOTO BOOK is now at a good 70% (unsupported: 44%). CEWE not only took up digitisation as an opportunity to gain in efficiency in its business processes; instead it developed its own business models on this basis. Examples of the successful transformation are the awards for "Best Innovator" (2010), "Superbrand 2014", "Brand of the Century" (2015), the "Digital Champions Award" in (2016), winners of a series of Stiftung Warentest awards and the exceptionally high rate of employee satisfaction.

Transformation has paid itself off: profit increased eight-fold
The transformation of the company has paid off: The profit after taxes has increased more than six-fold since 2003. In the current years alone, the plan is to increase earnings by 19% to 37%, to 27 to 31 million euros. Earnings have thus increased not less than eightfold since 2003 . The CEWE share price increased significantly under the lead of Dr. Hollander, from 11.50 euros to far more than 80 euros. CEWE's market capitalisation now far exceeds more than 600 million euros (end of 2001: Euro 64.4 million). The dividend has risen seven times in succession. The Board of Management is optimistic in terms of the development of the dividend in the coming years. The Chairman of the Supervisory Board of CEWE Stiftung & Co. KGaA, Otto Korte: "We thank Dr. Rolf Hollander for leading our company so successfully. We are sure that the positive development of the company will continue - due to our strong market position and thanks to an excellent management team and highly-committed, loyal employees."

Should you have any queries, please contact:
CEWE Stiftung & Co. KGaA, Axel Weber (Investor Relations)
Tel.: 0441 / 404 - 2288, Fax: 0441 / 404 - 421, Email: IR@cewe.de

Internet: cewe-photobook.com , cewe.de , cewe-fotobuch.de , cewe-print.de , viaprinto.de , saxoprint.de

The CEWE apps are all available in the app stores: CEWE PHOTO WORLD, CEWE POSTCARD, CEWE SERVICE and other photo apps, and the CEWE Investor Relations app for iPad(c) or android tablets, with annual reports and quarterly reports, presentations and sustainability reports.

Financial schedule:
10 November 2016 Publication of the interim report as at Q3 2016
21-22 November 2016 German Equity Forum, Frankfurt

About CEWE: The innovative photo and online print service company CEWE, with twelve highly-technical production operations and a staff of around 3,400 employees in 24 European countries, is both market and technological leader. In 2015 CEWE delivered around 2.2 billion prints, 6.0 million copies of the CEWE PHOTO BOOK and photo gift articles to around 25,000 retail partners to generate consolidated turnover of 554.2 million euros. CEWE is continuously generating new impulses in the photographic industry with innovations for people who enjoy taking photos. In the new business segment of commercial online printing, printed material for businesses is marketed through the sales platforms CEWE-PRINT.de, Saxoprint und Viaprinto. Founded in 1961 by Senator h.c. Heinz Neumüller, CEWE was taken to the stock exchange by Hubert Rothärmel in 1993. CEWE Stiftung & Co. KGaA is listed on the SDAX.



2016-10-18 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.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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