• Prof. Dr. Utz Claassen (51) appointed to be new Supervisory Board member at MIFA Mitteldeutsche Fahrradwerke AG
  • Claassen replaces Supervisory Board member Prof. Dr.-Ing. Klaus-Dietrich Kramer

Sangerhausen, 3 June 2014 - Today, Prof. Dr. Utz Claassen was appointed to be new Supervisory Board member of MIFA Mitteldeutsche Fahrradwerke AG ("MIFA", WKN share: A0B95Y, ISIN share: DE000A0B95Y8). The appointment was made in accordance with the application of MIFA's Management Board by court order pursuant to Section 104 of the German Stock Corporation Act (AktG), as successor of Prof. Dr.-Ing. Klaus-Dietrich Kramer, who relinquished his Supervisory Board mandate on 2 June 2014.

Supervisory Board Chairman Mr. Uwe Lichtenhahn, expressly thanks Mr. Kramer for his commitment as part of his Supervisory Board activity: "Mr. Kramer has worked outstandingly over the past approximately two years, and has always acted as an expert representative of the Supervisory Board with his solutions oriented approach. As a result of his role as managing shareholder of the Institute for Automation and Information Technology in Wernigerode, he has played a special role in further developing the production infrastructure at the MIFA site at Sangerhausen. We would like to thank him for his effective and active input, and we would like to wish him all the best for the future." Along with Mr. Lichtenhahn and Mr. Claassen, Mr. Ralf Poschmann, Mayor of the City of Sangerhausen, continues as Deputy Supervisory Board Chairman.

With Utz Claassen, an economist and doctor of political sciences, MIFA has recruited one of the most renowned representatives of the German management elite. In the past, Claassen has held numerous management board positions, including as CFO at SEAT S.A., a subsidiary of Volkswagen AG, and as CEO of EnBW Energie Baden-Württemberg AG. In addition to his Supervisory Board role at MIFA, he is, among others, also Supervisory Board Chairman of Syntellix AG, a life sciences company which he founded in 2008 to focus on developing and selling implants produced from highly innovative materials. "Innovation comprises an important factor in the appointment of Mr. Claassen as a new member of our Supervisory Board. He is the only manager and entrepreneur to have received the German Business Innovation Award with different corporations out of different businesses and size categories - most recently last year in the "start-up companies" category for Syntellix AG. Innovative approaches are generally in demand in business, and are essential in MIFA's currently difficult situation," is how Lichtenhahn characterises this strengthening of the Supervisory Board.

MIFA's Management and Supervisory boards are currently working with the help of an external management consultancy to develop a restructuring concept that should lay the foundation for the company's future operating orientation. In this context, the company is helped by the fact that Claassen, a former management consultant of McKinsey, became particularly distinguished and established as a reorganisation expert as part of his operational board functions. Lichtenhahn identifies this as a further critical factor in the appointment of this top manager: "Mr. Claassen has successfully managed three major corporate reorganisation processes - including the reorganisation of the EnBW Energie Baden-Württemberg Group. I think this shows the important role that he can play at MIFA." Utz Claassen is looking forward to his role at MIFA: "It lies in all of our interests to bring one of Germany's largest bicycle manufactures back on track. I am pleased to come up with the desire of the Supervisory Board to help at short notice in the course of the current situation - both in terms of the communicated strategic goals of the company and the inherent interest of shareholders in conservation of value as well as against the background of the high importance of the jobs at MIFA for the entire region." Along with his leading roles at companies from various sectors, Claassen has also held various association roles, including as a member of the Management Board of the Federation of German Industries (BDI). "Mr. Claassen is optimally networked within both German and international business, and it's certain that he will bring important new impulses to MIFA. We are already looking forward to future Supervisory Board meetings with our new colleague, and we would like to take this opportunity to again welcome him warmly on board," as Lichtenhahn emphasized.

About the company:
MIFA Mitteldeutsche Fahrradwerke AG, headquartered in Sangerhausen (Saxony-Anhalt), is Germany's largest manufacturer of bicycles in terms of sales. The company offers a comprehensive range of bicycle models spanning entry price through to premium end. The components included in bicycle production are sourced from renowned suppliers and assembled at the company's sole production site in Sangerhausen, Germany. Business in this context focuses on product-related order production for major retail chains and OEM (Original Equipment Manufacturer) customers. Ebikes have also been manufactured since 2011. MIFA produces e-bikes for automotive manufacturer smart, manufactures for the Deutsche Post bicycle fleet, and supplies communal lending systems with multi-user vehicles, among other customers. In 2012, MIFA acquired Berlinbased e-bike manufacturer Grace and Bavaria-based cult bicycle forging company Steppenwolf, thereby intensifying its sales activities via specialist dealers. MIFA sells its bicycles predominately on its domestic German market. Further sales markets are located mainly in Western Europe. Both the operating business and administration and logistics are managed at the company's sole production location in Sangerhausen.
MIFA has been a listed company since May 2004. Its shares are traded in the Prime Standard of the Regulated Market of the Frankfurt Stock Exchange. MIFA's corporate bond is listed in the Entry Standard for bonds on the Frankfurt Stock Exchange.

Contact:
Mark Appoh
cometis AG
Unter den Eichen 7
65195 Wiesbaden
Tel.: +49 (611) 205855-21
Fax: +49 (611) 205855-66
E-Mail: appoh@cometis.de

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