2020

08.04.2020 – Gurit Holding AG

Organisational and Management change in the Business Unit Composite Materials

Adhoc release

Organisational and Management change in the Business Unit Composite Materials

Zurich, April 8, 2020 – Gurit (SIX Swiss Exchange: GUR) announces today that it will split the business unit Composite Materials into Wind Materials and Marine & Industrial Materials. Lance Hill, currently Regional Sales Director for the Americas region, is promoted to General Manager Marine & Industrial Materials effective May 1, 2020. A search for the new General Manager Wind Materials position is in progress and will be announced in due time.

As the business nature of the Wind industry is different from the Marine and Industrial activities, Gurit has decided to divide its Business Unit Composite Materials. Both target market focused organisations will allow Gurit to further improve customer focus and support, which will enable stronger business growth. Both business units will continue to have access to the entire materials offering.

Lance Hill has joined Gurit in 2009 and is currently the Regional Director of Gurit Americas. Previously he held positions within the composites industry. Lance Hill is a British national and holds an MBA degree of the University of Birmingham. He will relocate from the US to Europe for his new role.

The Wind Materials Business Unit will be run by Rudolf Hadorn during the time when Stefan Gautschi will leave Gurit in June 2020 until the new General Manager Wind Materials is on board.

About Gurit

The subsidiaries of Gurit Holding AG, Wattwil/Switzerland, (SIX Swiss Exchange: GUR) specialize in the development and manufacture of advanced composite materials, composite tooling equipment and core kitting services. The product range comprises structural core materials, fibre reinforced prepregs, wind blade moulds, formulated products including coatings, resins and adhesives as well as structural composite engineering. Gurit supplies global growth markets such as the wind turbine industry, aerospace, marine, rail and many more. Gurit operates production sites and offices in Canada, China, Denmark, Ecuador, Germany, Indonesia, India, Italy, Mexico, New Zealand, Poland, Spain, Switzerland, Turkey, United Kingdom and the United States.

www.gurit.com

Gurit Group Communications

Thomas Nauer
Phone: +41 44 316 15 55
E-mail. thomas.nauer (at) gurit.com

All trademarks used ormentioned in this release are protected by law.

Forward-looking statements:

To the extent that this announcement contains forward-looking statements, such statements are based on assumptions, planning and forecasts at the time ofpublication of this announcement. Forward-looking statements always involve uncertainties. Business and economic risks and developments, the conduct of competitors, political decisions and other factors may cause the actual results to be materially different from the assumptions, planning and forecasts at the time of publication of this announcement. Therefore, Gurit Holding AG does not assume any responsibility relating to forward-looking statements contained in this announcement.


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