Standard Profil - comment

Standard Profil has been without a CFO since June when Otto Tomaschek resigned.  The original replacement, Gunter Hiller, could not leave his previous employment, XANDOR Automotive as originally planned.  Therefore, Standard Profil started a new recruitment process and announced yesterday (Tuesday 17th) the appointment of Ulrich-Nikolaus Kranz as the new CFO and simultaneously appointment to the management board. 

Mr Kranz has previously held senior management positions at Kiekert AG and Schlemmer Group.   This is an important appointment as Standard Profil grabbles with an uncertain OEM volume outlook and its upcoming RCF and bond maturities.