SAF-HOLLAND S.A. / Change of Personnel 28.01.2009 Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Luxembourg, January 28, 2009 Rudi Ludwig (60), Chief Executive Officer of SAF-HOLLAND Group GmbH, will withdraw from day-to-day operations when his contract expires on February 28, 2009 in accordance with his own wishes. As a member of the Board of Directors of SAF-HOLLAND S.A., Rudi Ludwig will continue to influence the strategic direction of the Company and will be at the disposal of the Company in the changing market environment. His successor as CEO will be Dr. Reiner Beutel (49), who will assume his new position on February 2, 2009 in order to ensure a smooth transition. Most recently Dr. Reiner Beutel has held several Board of Directors seats, amongst others for Haldex AB, KUKA AG and Mirror Controls International. Prior to this, as CEO and CFO of Schefenacker AG in Schwaikheim, Germany, his responsibilities included the operational and financial realignment of this international automotive supplier. Dr. Beutel began his career after studying business administration in Germany and the USA; he earned a doctorate with a focus on strategic planning and controlling in 1986 while working as a business consultant at A.T. Kearney GmbH. Beginning in 1989, he spent fifteen years at the Robert Bosch Group, where he served in a variety of positions with increasing management responsibility, his final position being President, Chairman and CEO of the Bosch Power Tools division in Illinois, USA. 'Dr. Reiner Beutel will strengthen our Company as a proven industrial management expert with international experience, who will continue the growth and globalization strategy initiated by Rudi Ludwig and advance SAF-HOLLANDs development under new economic conditions,' commented Dr. Rolf Bartke, Chairman of the Board of Directors. Rudi Ludwig, who has served as Chairman of the Management Board since June 2003, launched the former SAF Group (Otto Sauer Achsenfabrik GmbH) on a successful growth path. As a result of his strategic vision, he more than tripled the sales of the Company from EUR 243 million to approximately EUR 800 million within a few years. Significant milestones were the restructuring of business processes in the early years, the merger of the German Otto Sauer Achsenfabrik GmbH with the American company The Holland Group, Inc. in 2006, the IPO of the combined company in 2007 and further acquisitions in 2008 that contributed to the globalization and rounding out of the product range. 'Mr. Ludwig has made a substantial contribution to positioning SAF-HOLLAND as a leading supplier in its core international markets. His continued association with our Company as a member of the Board of Directors is extremely valuable and provides continuity as SAF-HOLLAND continues to move forward. On behalf of the entire Board of Directors and all employees, I would like to thank him for his work as Chairman of the Management Board,' remarked Dr. Rolf Bartke, Chairman of the Board of Directors. The remainder of the SAF-HOLLAND Group GmbHs Management Board remains the same, with Wilfried Trepels as CFO, Sam Martin as COO, Detlef Borghart as Head of the Trailer Systems Business Unit, Jack Gisinger as Head of the Powered Vehicle Systems Business Unit and Steffen Schewerda as Head of Group Operations. Company Profile With more than EUR 800 million in sales and over 2,000 employees, SAF-HOLLAND S.A. is one of the worldwide leading manufacturers and suppliers of premium product systems and components primarily for trailers as well as trucks, buses and recreational vehicles. The product range encompasses axle and suspension systems, fifth wheels, couplers, kingpins and landing legs. SAF-HOLLAND customers include the majority of large truck and trailer producers all over the world. The products are sold to Original Equipment Manufacturers (OEMs) and Original Equipment Suppliers (OESs) by means of a global service and distribution network and via aftermarket channels directly to end users and service garages. SAF-HOLLAND has therefore established itself as one of the few manufacturers in its sector that is internationally positioned with an extensive product range and a broad service network. SAF-HOLLAND S.A. has been listed in the Prime Standard of the Frankfurt Stock Exchange since July 2007. DGAP 28.01.2009 --------------------------------------------------------------------------- Language: English Issuer: SAF-HOLLAND S.A. 68-70, boulevard de la Pétrusse L-2320 Luxembourg Luxemburg Phone: +49 6095 301 - 0 Fax: +49 6095 301 - 260 E-mail: info@safholland.de Internet: www.safholland.com ISIN: LU0307018795 WKN: A0MU70 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart End of News DGAP News-Service ---------------------------------------------------------------------------
DGAP-News: SAF-HOLLAND S.A.:Dr. Reiner Beutel Succeeds Rudi Ludwig as CEO
| Source: EQS Group AG