CEO Dr. Michael Buscher Will Leave The Company

The Board of Directors of the Oerlikon Group announces that CEO Dr. Michael Buscher will leave the Company. The Board has appointed CFO Jurg Fedier interim CEO with immediate effect.
 
Michael Buscher, who led the Oerlikon Group through a phase of comprehensive restructuring since joining the company in 2010, has played a key role in the success of the company. The Board of Directors thanks Michael Buscher for his significant and lasting contributions.
 
The Board of Directors has appointed CFO Jurg Fedier interim Group CEO with immediate effect. Jurg Fedier, who was instrumental in the Group’s restructuring and 2012 refinancing, has been an Executive Committee member and Oerlikon CFO since 2009. Oerlikon Chairman Tim Summers said: “The Board of Directors wishes Michael Buscher all the best for the future and has complete confidence in Jurg Fedier to manage the Group’s business during this period of transition.”
 
About Oerlikon:
Oerlikon is a leading high-tech industrial group specializing in machine and plant engineering. The Company is a provider of innovative industrial solutions and cutting-edge technologies for textile manufacturing, drive, vacuum, coating, and advanced nanotechnology. A Swiss company with a tradition going back over 100 years, Oerlikon is a global player with around 12 700 employees at around160 locations in 34 countries and sales of CHF 2.9 billion in 2012. The Company invested in 2012 CHF 106 million in R&D, with over 1 000 specialists working on future products and services. In most areas, the operative businesses rank either first or second in their respective global markets.