aap completes Management Board transition to support growth and value creation

DGAP-News: aap Implantate AG / Key word(s): Personnel
18.12.2020 / 16:33
The issuer is solely responsible for the content of this announcement.

- Re-appointment of Rubino Di Girolamo as CEO and Marek Hahn as CFO

- Agnieszka Mierzejewska appointed member of the Management Board (COO)

The Supervisory Board of aap Implantate AG ("aap" or the "Company") is pleased to announce the composition of the new Management Board. In this context, Mr. Rubino Di Girolamo was re-appointed as CEO and Mr. Marek Hahn as CFO, while Ms. Agnieszka Mierzejewska was appointed to the Management Board as COO with effect from 1 January 2021. Ms. Mierzejewska will be the first female Management Board member in the history of aap. With the appointment of a COO the prime focus of the extended Management Board will be on the implementation of the strategy, the necessary re-design of corporate processes and the expansion of LOQTEQ(R) in all regions, especially in the US.
 

The Supervisory Board regularly evaluates the composition of the Management Board to ensure it has the appropriate skills, experience, and perspective necessary to drive the growth and value creation of the Company. aap has tremendous value creating opportunities in front of it and the Supervisory Board is convinced that the three Management Board members will be significant assets and are committed to achieve outstanding performance during and post COVID-19 crisis.
 

"We firmly believe that with the new Management Board we are excellently positioned to lead aap into a successful future," says Dr. med. Nathalie Krebs, Chairwoman of aap's Supervisory Board. "Ms. Mierzejewska has been one of the driving forces of the successful restructuring of aap's operations, which is a clear demonstration of the merits she has and will contribute to our company. She has also impressively demonstrated her sales competence, not least with regard to the US market. Together with the head of our US subsidiary, she has reorganised sales in the USA and thus made a significant contribution to being able to record dynamic sales growth this year despite COVID-19. The prolongation of Mr. Di Girolamo's and Mr. Hahn's contracts is a recognition of their contribution to aap's restructuring and repositioning from a strategic, financial and product development point of view. They contribute vast experience with all aspects of the company which is supportive to make decisions the first time right. We are convinced that the new Management Board brings the skills, experience, and perspective that aap needs. Based on the visible progress of the last months, it is now a matter of consistently continuing along the path we have chosen in order to put aap on a profitable growth path and create sustainable value for our shareholders."
 

Given the present market conditions the Supervisory Board decided to provide the new Management Board with contracts with a period of one year on comparable conditions like the existing contracts. The Management Board is incentivised to further accelerate the process to deliver positive operational cashflow and to stabilize the financing of the Company. During the coming transition year Supervisory Board and Management Board will discuss new contracts to ensure the continuity in the Management Board.
 

Rubino Di Girolamo (58) has served aap for many years in various Supervisory Board functions and has been the Company's CEO since May 2019. He is responsible for Corporate Development, Research & Development Future Technologies, Corporate Risk and Compliance Management.
 

Marek Hahn (45) has been a member of the Management Board (CFO) at aap since April 2010. In his function as CFO he is responsible for Finance/Controlling, Human Resources, IT, Legal Affairs, Investor and Public Relations as well as Administration.
 

Agnieszka Mierzejewska (38) began her career at aap in May 2014 as Director of Customer Service & Logistics. Over the past recent years, Ms. Mierzejewska has already been taken responsibility for various operational areas, last serving as Director Operations. As COO, Ms. Mierzejewska will be responsible for Sales & Marketing, Production, Research & Development Trauma, Quality Assurance and Regulatory Affairs. Ms. Mierzejewska holds a master's degree in Health Economics and Health Management.


 

-------------------------------------------------------------------------------------------------------------------------------------------
aap Implantate AG (ISIN DE0005066609) - General Standard/Regulated Market - All German stock markets -

About aap Implantate AG
aap Implantate AG is a globally active medical technology company based in Berlin, Germany. The Company develops, manufactures and markets products for trauma. The IP-protected portfolio includes besides the innovative anatomical plating system LOQTEQ(R) a wide range of cannulated screws. In addition, aap Implantate AG has an innovation pipeline with promising development projects such as the antibacterial silver coating technology and magnesium-based implants. These technologies address critical and unmet needs in trauma. In Germany, aap Implantate AG sells its products directly to hospitals, purchasing groups, and hospital groups, while at international level it primarily uses a broad network of distributors in around 25 countries. In the US the Company pursues a hybrid distribution strategy with its subsidiary aap Implants Inc. Distribution is carried out both through distribution agents and partnerships with global orthopedic companies. aap Implantate AG's stock is listed in the General Standard segment of Frankfurt Stock Exchange (XETRA: AAQ.DE). For more information, please visit our website at www.aap.de.

Forward-looking statement
This release may contain forward-looking statements based on current experience, estimates and projections of the management board and currently available information. They are not guarantees of future performance. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. Many factors could cause the actual results, performance or achievements of aap to be materially different from those that may be expressed or implied by such statements. These factors include those discussed in aap's public reports. Forward-looking statements therefore speak only as of the date they are made. aap does not assume any obligation to update the forward-looking statements contained in this release or to conform them to future events or developments.


For inquiries please contact:

18.12.2020 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