Jürgen Otto will become the new CEO of Heidelberger Druckmaschinen AG (HEIDELBERG) on July 1, 2024.

• Dr. Ludwin Monz will step down from his position as Chairman of the Management Board at the end of June 30, 2024 and step down from the Management Board
• The new CEO as of 01.07.2024 is Jürgen Otto
• Expansion of the Management Board with the addition of Dr. David Schmedding

Jürgen Otto (59) will become the new CEO of Heidelberger Druckmaschinen AG (HEIDELBERG) on July 1, 2024. He succeeds Dr. Ludwin Monz, who will resign from his position as Chairman of the Management Board at his own request and in agreement with the Supervisory Board. At the end of June 30, 2024, Monz will step down from the Management Board of HEIDELBERG. The Supervisory Board passed a resolution to this effect on April 19, 2024.

The Chairman of the Supervisory Board, Dr. Martin Sonnenschein, comments: "We very much regret Dr. Ludwin Monz's decision to leave HEIDELBERG. He has decisively advanced our company strategically and operationally and thus strengthened our foundation in a difficult market environment. With Jürgen Otto, we are gaining a proven leader. With his experience and network, we will continue to consistently prepare HEIDELBERG for the future, increase profitability and further strengthen our significant technological expertise in the printing and packaging industry and beyond."

Dr. Ludwin Monz says: "I really enjoyed working at HEIDELBERG. I would like to thank the Supervisory Board, the management team and all employees of the company for their good cooperation."

Jürgen Otto brings decades of experience in the sustainable orientation of large industrial companies, complemented by experience in the field of turnaround management in the recent years. Looking ahead to his upcoming role, Jürgen Otto comments: "HEIDELBERG is an icon of German industry with product quality and service expertise that is appreciated worldwide. I am looking forward to becoming part of HEIDELBERG and working together with the management team around Tania von der Goltz and David Schmedding as well as all employees on a successful future for the company."

At its meeting on April 19, 2024, the Supervisory Board of Heidelberger Druckmaschinen AG also expanded its Management Board. Dr. David Schmedding (47), previously Head of Sales, will join the Management Board as a new member. As of 01.07.2024, the Management Board will therefore consist of Jürgen Otto as Chief Executive Officer, Tania von der Goltz as Chief Financial Officer and Dr. David Schmedding as Chief Sales and Service Officer.

Commenting on the appointment of Dr. David Schmedding, Dr. Martin Sonnenschein said: "Due to his previous management positions in the company, Dr. David Schmedding is an accomplished HEIDELBERG resident. With his appointment to the Management Board, we will place an even stronger focus on convincing our customers with innovative, high-quality products and services and advancing their performance in the future."

Dr. David Schmedding adds: "I would like to thank everyone for the trust they have placed in me and look forward to the task of helping to shape HEIDELBERG as a member of the Management Board on its way forward and to further develop it in the interests of our customers."