Cendres+Métaux SA aligns its organization with the changed market environment

Merger of the Dental and Medical Divisions
In line with its ongoing efficiency enhancement program, the Cendres+Métaux Holding S.A. Board has decided to merge its two divisions Dental and Medical into a single Medtech division as of July 1st, 2015. The new head of this division will be Dr. Arne-Christian Faisst, who has been a Board member of the Holding as expert for medical technology since the General Meeting of Shareholders in 2014. The Board delegated Dr. Arne Faisst to this function in mutual agreement with the CEO.

Change in Management
With this restructuring, Management will reduce from seven to four members. Besides his role as CEO, Dr. Claudio Penna will also assume the newly created function of COO on an ad interim basis for the time being. He will form the Management team together with Messrs Arne Faisst and Ralf Novacek (CFO). The President of the Board, Mr. Marco Zingg, will actively support and accompany the Management. This will harness competences and strengthen market orientation consistent with the growth strategy.

The other members of the Management team thus far, Dr. Theo Gautschi (Quality Assurance), Freddy Lei (Jewellery/Watches/Refining), Marco Nanzer (Production) and Dr. Thierry Copponnex (Development), will now report directly to the COO.

Adaptation of the organizational structure was due to the changes in the international competitive environment. The Board also reacts to these changes with strategic realignment of the Cendres+Métaux Medtech business. The promising new product developments in this area call for market realignment and an organization characterized by high productivity and efficiency.

Continued positive development in the watch supply business
The Jewellery/Watches/Refining, which largely operates as a supplier on the Swiss market, is affected to varying degrees by the currency. The company anticipates slight growth in business over last year from the watch industry. The far smaller Jewellery division, on the other hand, has been strongly affected by the weakness of the euro and is set to fall short of its export targets. In the Refining division, sales remain stable as compared with the previous year.

Contact for inquiries:

Marco Zingg
President of the board
Dr. Claudio Penna
Chief Executive Officer

26 June 2015

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