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Karl Ostler to become Chief Financial Officer of the Franconian technology company with effect from January 1, 2023
Michael Meyer will resign from the Management Board at his request when his contract expires on December 31, 2022
Joint transition period ensures orderly handover and continuity.
Ansbach, September 21, 2022 --- OECHSLER AG, a leading plastics technology company based in Ansbach/Middle Franconia, has appointed Karl Ostler (48) as a member of the Executive Board with effect from October 1. The company is thus arranging the succession of its long-standing CFO: Michael Meyer (48), who has been with the company for more than 18 years and was appointed CFO in January 2011, is stepping down from his position at his request when his contract expires on December 31, 2022. Ostler and Meyer will ensure an orderly handover of mandates during a transitional period of three months in which they will jointly serve on the Executive Board. As of January 1, 2023, the three-member Executive Board of OECHSLER AG will continue to include Dr. Claudius M. Kozlik as Chief Executive Officer (CEO) and Christoph Faßhauer as Chief Operating Officer (COO) in addition to Karl Ostler as Chief Financial Officer (CFO).
A proven financial expert, Karl Ostler, has more than 20 years of management experience in finance, controlling, and accounting and many years of experience in plastics technology. He joins from Koller Group, a global technology company in plastics engineering, where he has served as the company's CFO since 2015. Previously, Ostler was responsible for numerous mandates in the areas of finance, controlling, and interim management as a director at the management consultancies KPMG and FTI. After studying business administration at Ludwig Maximilian University in Munich, Ostler began his career at Geiger technologies, a supplier to the automotive industry specializing in the development and manufacture of plastic components, where he served as CFO from 2004 to 2009.
Michael Meyer was appointed CFO of OECHSLER AG with effect from January 1, 2011. As the Group's first CFO, he has created new structures in the financing, controlling, and accounting as well as risk and compliance management, thus laying decisive foundations for the Group's global growth course. He has aligned the company's financing to the long term and, with an exceptionally high equity ratio of 60 percent, has put it on an excellent footing. Meyer joined OECHSLER in 2004 from KPMG: Initially, he was responsible for the company's accounting in the Controlling and Accounting department. In 2006, he was appointed commercial director of the company. In addition to his leadership roles in human resources and financial management as well as controlling and various administrative functions, he also served in the management of numerous OECHSLER companies, including as a member of the Board of Directors of the OECHSLER companies in Mexico, USA, and Singapore. After highly successful years in the service of OECHSLER, Michael Meyer has decided to pursue new professional challenges outside the company. Shareholders, Supervisory Board, and Management, on behalf of the entire Group, thank Mr. Meyer for his valuable contribution to OECHSLER's success and wish him all the best for his future professional challenges and privately.
Wolf Matthias Mang, Chairman of the Supervisory Board of OECHSLER AG, said: "Michael Meyer has managed the Group's finances with great prudence - especially in recent years; his many years of experience have been of great importance to the company. As CFO and long-standing member of the Executive Board, he has thus made a very decisive contribution to the successful global development of our company. I am delighted that in Karl Ostler, we have gained a proven finance and controlling expert with many years of management experience to succeed Michael Meyer. His qualifications and management experience are an excellent fit for OECHSLER. Together, we will continue the successful strategy and international development of OECHSLER AG in the long term."
