Burkhard Schuchmann resigning from Vossloh AG's Executive Board at the end of 2005
The CEO of Vossloh AG (ISIN: DE0007667107), Burkhard Schuchmann, has resigned from his office as Executive Board member and Chairman as of December 31, 2005.Schuchmann (63) commenced his career as Executive Board Assistant at Munich-based Bayerische Elektrizitätswerke in 1969. Later he assumed the position of Commercial Manager, then the youngest statutory officer within the RWE Group. In 1978, Schuchmann, who was born in Berlin, moved to Knürr AG where he saw through the IPO of this midsize company.
In 1986, Schuchmann joined the Management Board of what was then Vossloh-Werke GmbH where he brought about the transformation into a public stock corporation (AG) whose chairmanship he assumed, and then successfully floated this company, too. As a result it proved possible through acquisitions to achieve important strategic targets. Thanks to its profitable growth, the market value of Vossloh AG under the command of Schuchmann multiplied almost sixtyfold, sales rising from €90 million to around €1 billion.
The Supervisory Board extols the extraordinary services rendered by Schuchmann to Vossloh AG over the past twenty years through his successful work on the Executive Board and his business strategies. The Supervisory Board regrets yet accepts the decision made by the CEO.
Werdohl, December 8, 2005