WashTec sets course for stronger organic growth with new executive board

Augsburg, January 30, 2015 - Current investments into innovative product solutions, the sharpening of the business model and the announced overall efficiency program are expected to show positive results already in fiscal year 2014 with earnings significantly exceeding initial expectations.

WashTec today is confident to continuously enlarge its global product leadership position in the years to come and by this, preparing the ground for future organic growth. This growth is expected to come from all regions of the world. In addition to its European core markets, especially advanced industry countries with a still growing car-population like the US will contribute.

A newly formed team of existing and just appointed Executives is committed to utilize all opportunities to drive sustainable annual growth in sales and earnings.

Effective January 30, 2015, Dr. Jürgen Rautert (56), CEO, will leave WashTec's executive board by mutual agreement. The supervisory board expressly thanks Dr. Rautert for his strategic and innovative contributions during the recent two years and wishes him all the best for his future.

Dr. Volker Zimmermann (51) will succeed Dr. Rautert as the CEO and CTO effective February 1st, 2015. Dr. Zimmermann has held executive positions with major engineering and automotive companies in his career. His outstanding innovation and integration capacity have been main drivers for the sustainable financial success of these companies under his leadership. The supervisory board wishes Dr. Zimmermann success and passion on WashTec's road to continuously increase the technological leadership.

Karoline Kalb (42) continues to bring her broad long-term experience of the global WashTec organization and especially her strong relationship with key accounts into the executive team. As chief human resources officer (CHRO) she will focus on leadership-excellence, talent management and employee development. She will establish a value oriented corporate culture at WashTec. Beside these assignments, she stays in charge for corporate communications, compliance and special strategic projects.

Effective January 1, 2015, Stephan Weber (51) has been appointed to the executive board as the Chief Sales Officer (CSO). He is a proven Sales and Marketing expert with a strong success record in international business development. He stands for WashTec's future internationalization.

Rainer Springs (48), already for some time fully authorized head of finance and IT, is appointed to the executive board as the Chief Financial Officer effective February 1, 2015. The successful turnaround of WashTec's US subsidiary has been one of his major achievements in the recent two years.

The supervisory board is looking forward to best support to this newly formed executive team, representing both, continuity and new inspirations.

About WashTec:
The WashTec Group has its registered office in Augsburg, Germany, and is the leading supplier of innovative solutions for the car wash business worldwide. WashTec employs more than 1,600 persons worldwide and is represented by its subsidiaries in the core markets of Europe, the United States and Canada, as well as in China and Australia. WashTec also has independent sales partners in about 60 countries.