IVU Traffic Technologies AG — Board/Management Information 2001

Sep 4, 2001

News Details

Ad-hoc | 4 September 2001 08:24

IVU Traffic Technologies english

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– IVU Traffic Technologies AG streamlines its Executive Board from Five to Two Members Berlin, 4 Sep 01: IVU Traffic Technologies AG (WKN 744 850) reorganizes its top management. The executive board is reduced from five members to two members. One of the two remaining positions will be filled externally. Of the five IVU founders and former executive board members, Dr. Olaf Schemczyk is the only one remaining on the executive board, where he will be responsible for the business operations. The four other founders will continue to support IVU through customer service, and acquisition activities. The position of Chief Executive Officer will be filled by the Munich businessman and former CEO of sd&m AG, Prof. Dr. Ernst Denert. During his 19 years with sd&m AG, he built the company into a highly reputable and successful software company with 900 employees, and revenues of 125 million Euro (business year 2000) with a turnover yield of almost 30 percent. Besides his responsibilities as CEO, he will also assume responsibility for the areas accounting and controlling. He will also remain chairman of the board of directors of sd&m AG. The streamlining measures which had been contemplated for some time by all the founders of the company, have now been implemented. IVU will concentrate all its efforts on increasing its profitability. Specifically it means maximizing employee utilization in the promising and high volume areas of public transport and information logistics. Additionally, significant reductions will be made in all non-productive areas. The executive board and the supervisory board are convinced that the implemented measures will produce positive results for business year 2002. For questions or further information, please contact: IVU Traffic Technologies AG, Nicola Gehrt, Investor Relations Manager, Tel: +4930 859 06 272, e-mail: ir@ivu.de end of ad-hoc-announcement (c)DGAP 04.09.2001 ——————————————————————————– WKN: 744850; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München, Stuttgart 040824 Sep 01