DGAP-News: Fresenius Medical Care AG & Co. KGaA / Key word(s):
Miscellaneous
Fresenius Medical Care AG & Co. KGaA: Announces Management Board
Change
09.03.2012 / 11:16
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Contact: Fresenius Medical Care AG & Co. KGaA
Oliver Maier Else-Kröner-Str.1
Phone: + 49 6172 609 2601 61352 Bad Homburg
Fax: + 49 6172 609 2301 Germany
www.fmc-ag.com
North America:
Terry L. Morris
Phone: + 1 800 948 2538
Fax: + 1 615 345 5605
E-mail: ir@fmc-ag.com March 09, 2012
Investor News
Fresenius Medical Care Announces
Management Board Change
Bad Homburg, Germany - Fresenius Medical Care AG & Co. KGaA ('the company'
or 'Fresenius Medical Care'), the world's largest provider of dialysis
products and services, today announced a change in the Management Board.
Rice Powell will succeed Dr. Ben J. Lipps as CEO of Fresenius Medical Care
AG & Co. KGaA and Chairman of the Management Board, effective January 1,
2013. The appointment of Rice Powell is part of the company's succession
plan to ensure a smooth transition of leadership.
Rice Powell, who currently serves as CEO of Fresenius Medical Care North
America, was appointed Deputy Chairman of the Fresenius Medical Care
Management Board in December 2009. Rice Powell has been a member of the
Fresenius Medical Care Management Board since 2004, and has more than 30
years of experience in the healthcare industry. From 1978 to 1996, he held
various management positions, among others, at Baxter International Inc.,
and Biogen Inc. in the U.S. Under his leadership, Fresenius Medical Care
has significantly expanded its market-leading position in North America and
successfully managed the implementation of the new bundled reimbursement
system in the U.S.
The contract of the Chairman of the Management Board and Chief Executive
Officer Ben Lipps expires on December 31, 2012, at which time he will
retire from the Management Board. Ben Lipps has served in the Fresenius
dialysis division since 1985, when revenue was approximately EUR 104
million.
Ben Lipps was appointed Chief Executive Officer and Chairman of the
Management Board in 1999. Under his leadership, Fresenius Medical Care
increased its annual revenue from $3.8 billion in 1999, to $12.8 billion in
2011. Today, Fresenius Medical Care is the world's largest provider of
dialysis products and services.
In recognition of his extraordinary achievements and unique expertise Dr.
Ben Lipps has been appointed Honorary Chairman of the supervisory boards of
Fresenius Medical Care AG & CO KGaA and Fresenius Medical Care Management
AG, effective January 1, 2013.
Ben Lipps, Chief Executive Officer of Fresenius Medical Care and Chairman
of the Management Board, said: 'We are pleased to facilitate an orderly
transition process with the decision to appoint Rice Powell as CEO and
Chairman of the Fresenius Medical Care Management Board, effective January
1, 2013. Rice Powell's successful record and his extensive management
experience within Fresenius Medical Care and the health care field qualify
him superbly for the Chairman and CEO position. I look forward to
continuing our close working relationship during this transition period and
will stay closely involved with the company.'
Ulf Mark Schneider, Chairman of the Supervisory Board of Fresenius Medical
Care Management AG, said: 'Rice has made outstanding contributions to the
success of Fresenius Medical Care. With his experience and excellent track
record in the healthcare field, Rice's leadership will ensure the continued
success of the company. We are looking forward to working with him in his
new role. On behalf of the Supervisory Board, I would like to express our
deep gratitude and admiration for Ben's outstanding contributions in making
Fresenius Medical Care the leading global dialysis company.'
About Fresenius Medical Care
Fresenius Medical Care is the world's largest integrated provider of
products and services for individuals undergoing dialysis because of
chronic kidney failure, a condition that affects more than 2.1 million
individuals worldwide. Through its network of 2,898 dialysis clinics in
North America, Europe, Latin America, Asia-Pacific and Africa, Fresenius
Medical Care provides dialysis treatment to 233,156 patients around the
globe. Fresenius Medical Care is also the world's leading provider of
dialysis products such as hemodialysis machines, dialyzers and related
disposable products.
For more information visit the Company's website at www.fmc-ag.com
Disclaimer
This release contains forward-looking statements that are subject to
various risks and uncertainties. Actual results could differ materially
from those described in these forward-looking statements due to certain
factors, including changes in business, economic and competitive
conditions, regulatory reforms, foreign exchange rate fluctuations,
uncertainties in litigation or investigative proceedings, and the
availability of financing. These and other risks and uncertainties are
detailed in Fresenius Medical Care AG & Co. KGaA's reports filed with the
U.S. Securities and Exchange Commission. Fresenius Medical Care AG & Co.
KGaA does not undertake any responsibility to update the forward-looking
statements in this release.
End of Corporate News
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09.03.2012 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
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Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Fresenius Medical Care AG & Co. KGaA
Else-Kröner-StraÃe 1
61352 Bad Homburg
Germany
Phone: +49 (0) 6172- 609 2525
Fax: +49 (0) 6172- 609 2301
E-mail: ir@fmc-ag.com
Internet: www.fmc-ag.de
ISIN: DE0005785802, DE0005785836,
WKN: 578580, 578583
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart; Terminbörse EUREX; NYSE
End of News DGAP News-Service
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159981 09.03.2012
DGAP-News: Fresenius Medical Care AG & Co. KGaA: Announces Management Board Change
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