GEA Group Aktiengesellschaft: GEA to propose two new Supervisory Board members to AGM

DGAP-News: GEA Group Aktiengesellschaft / Key word(s): Personnel GEA Group Aktiengesellschaft: GEA to propose two new Supervisory Board members to AGM 22.03.2021 / 11:30 The issuer is solely responsible for the content of this announcement. PRESS RELEASE GEA to propose two new Supervisory Board members to AGM Covestro China President Holly Lei and Prof. Dr. Jürgen Fleischer, Head of Institute and Director of Machines, Equipment and Process Automation at the Karlsruhe Institute of Technology, will be nominated for election at the Annual General Meeting Current Supervisory Board members Jean E. Spence and Ahmad M.A. Bastaki will not stand for re-election when their tenures expire at the end of April 2021 The terms of office of the shareholder and employee representatives on the Supervisory Board are to be uniformly reduced to a maximum of four years Düsseldorf (Germany), March 22, 2021 - The Supervisory Board of GEA Group Aktiengesellschaft has reached further decisions for an orderly membership transition in the Supervisory Board, following December's nomination of Klaus Helmrich as the successor to the current Chairman, Dr. Helmut Perlet. Jean E. Spence and Ahmad M.A. Bastaki have both informed the Board that they will not stand at the next election of shareholder representatives. As their successors, the Supervisory Board will nominate Holly Lei (60) and Prof. Dr. Jürgen Fleischer (60) for election at the Annual General Meeting. Resolutions recommending the appointment of both candidates have been adopted and will be put to the vote at the Annual General Meeting on April 30, 2021. Supervisory Board Chairman Dr. Helmut Perlet says: "Jean E. Spence and Ahmad M.A. Bastaki have shown great dedication to our company for many years. We are deeply grateful for their commitment and wish them all the best for the future. At the same time, we are delighted to be able to nominate Holly Lei and Prof. Dr. Jürgen Fleischer, who are recognized experts in the international industrial landscape, as new Supervisory Board members. Both have long-standing management experience within international groups. I have no doubt that they, too, will put their extensive expertise to use at GEA." Chinese-born Canadian Holly Lei has held various management positions at the Bayer and Covestro Groups in China since 2003. As Global SVP and President of Covestro China, she has been responsible for business in the region since 2019. She is also a board member of the Shanghai chapter of the European Union Chamber of Commerce in China. Prof. Dr. Jürgen Fleischer has been Head of Institute and Director of Machines, Equipment and Process Automation at the Karlsruhe Institute of Technology (KIT), wbk Institute of Production Science since 2003. Earlier in his career, he gained extensive experience at various industrial groups. In addition, he has been a Visiting Professor and Director of the Advanced Manufacturing Technology Center AMTC at Tongji University, Shanghai, since 2012. As part of his scientific activities, Prof. Dr. Fleischer is also a member of the "Future of Work" advisory council of German trade union IG Metall. Among other factors, these recommendations take into account the requirements of the German Corporate Governance Code 2019 ("GCGC") and the objectives and diversity principles adopted by the Supervisory Board in December 2017 with regard to its composition, as well as the related competency profile defined. On this basis, alongside the integrity and commitment of its members, the Supervisory Board pays particular attention to existing industry and sector knowledge, as well as to ensuring that its membership reflects an appropriate level of independence, international experience and diversity. It will also be proposed to the AGM that the terms of office of the Supervisory Board's shareholder and employee representatives be uniformly reduced to a maximum of four years. By shortening their tenure from approximately five years to around four, the Supervisory Board members could continue to qualify as independent members for a full three terms of office. At the same time, this reduced tenure takes into account the recommendation of the GCGC and the expectations notably of international investors. At the next scheduled election, all six shareholder representatives on the Supervisory Board will therefore be elected to serve until the Annual General Meeting in 2025. Corporate Media and Press: Marc Pönitz Peter-Müller-Strasse 12, 40468 Düsseldorf, Germany Phone [phone] [e-mail] About GEA GEA is one of the world's largest systems suppliers for the food, beverage and pharmaceutical sectors. The international industrial technology group specializes in machinery and plants as well as advanced process technology, components and comprehensive services. With more than 18,000 employees, the group generated revenue of more than EUR 4.6 billion in fiscal year 2020. A major focus is on continuously enhancing the sustainability and efficiency of customers' production processes. GEA plants, processes and components help achieve significant reductions in carbon emissions, plastic use and food waste in production worldwide. In this way, GEA makes a decisive contribution toward a sustainable future, fully in line with its corporate philosophy of "engineering for a better world." GEA is listed in the German MDAX and the STOXX(R) Europe 600 Index, and is also among the companies comprising the DAX 50 ESG and MSCI Global Sustainability Indices. More information can be found online at gea.com. Contact: GEA Group Aktiengesellschaft Phone [phone] Fax [phone] gea.com 22.03.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

Language:	English
Company:	GEA Group Aktiengesellschaft
	Peter-Müller-Straße 12
	40468 Düsseldorf
	Germany
Phone:	[phone]
Fax:	[phone]
E-mail:	[e-mail]
Internet:	www.gea.com
ISIN:	DE0006602006
WKN:	660200
Indices:	MDAX
Listed:	Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Munich; Regulated Unofficial Market in Hanover, Stuttgart, Tradegate Exchange
EQS News ID:	1177169

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1177169  22.03.2021