DGAP-News: SURTECO GROUP SE / Key word(s): Personnel
SURTECO GROUP SE: Michael Phillips is new CEO for North America business
Effective July 15, 2021, Executive Management for all SURTECO operations in North America will be lead by Michael Phillips as CEO. This is in line with the new SURTECO worldwide strategy of local management and as well focusing on future growth and investments in the North American Market. Our three strategic North American business groups, Printing, Foils, and Edgings will all fall under the same leadership and philosophy of service.
Mike joined the start up company Linnemann USA in May 1988. He has led the North American Paper Division through the merger with Bausch to form BauschLinnemann North America, the acquisition of Coastal Paper, the asset purchase of CDM and the integration of SUDDEKOR LLC into the current SURTECO North America. Mike is active in industry Associations and has served on the Board of Directors for the Laminating Materials Association, the Decorative Surfaces Conference and the Composite Panel Association. This organizational change will also place the Doellken and Canplast product groups under the same domestic leadership.
Mike will report directly to Wolfgang Moyses, CEO of SURTECO GROUP SE. We are also expanding our North American Board of Directors which will provide advisory and legal services to both Mike and Wolfgang. The initial members of this board will be:
Lawrence (Larry) Schorr, Non Executive Chairman (Retired CEO of Simona America Inc. - see biography below.)
Max will step down as current CEO for North America and will focus on the expanding SURTECO Decoratives operation in Europe. We appreciate Max's leadership in North America during the past three years which has certainly seen unprecedented challenges.
As Non-Executive Chairman of the North American Board, Larry Schorr brings extensive business experience. His strategic advice will be extremely valuable to Mike and Wolfgang as we execute our plans for future growth in North America.
Mr. Schorr is the retired CEO of SIMONA America Group (2014-2020) a wholly owned US subsidiary of SIMONA AG where Wolfgang Moyses was the former CEO. Prior to joining SIMONA, Mr. Schorr was the principal owner and CEO of Boltaron Performance Products, a high performance plastics manufacturing company specializing in aviation products, which was acquired by SIMONA AG in 2014. Following the acquisition, Mr. Schorr successfully led a $150 million group of three US plastic sheet manufacturing companies for SIMONA.
Mr. Schorr has also served as President and CEO of Resource Recycling Technologies Inc, an American Stock Exchange Company that was acquired by WMX Technologies Inc. Prior to that he was a managing law partner of a regional law firm specializing in corporate law.
Mr. Schorr has been a Board Member since 1985 and is the current Lead Director at Dick's Sporting Goods, the largest sporting goods retailer in the world and listed on the New York Stock Exchange.
Profile of SURTECO
SURTECO GROUP SE with registered office in Buttenwiesen is a mid-sized holding company with international operations. The company listed on the stock exchange combines leading national and international brands for surface technology under one roof. The comprehensive product portfolio includes papers printed with decor designs, impregnated materials, release papers, decorative flat foils and edgebandings based on specialist technical papers and plastics. This portfolio is complemented by skirtings made of plastics, technical extrusions (profiles) for industry, and roller shutter systems. With more than 3,000 employees at 22 production sites worldwide, the Group generates annual sales of around EUR 627 million in 2020. 27 % of these sales are generated in Germany, 47 % in European countries outside Germany and a further 26 % in America, Asia and Australia. Customers of the SURTECO Group primarily come from the wood-based, flooring and furniture industries, as well as from interior design.
More information on the company is available at: www.surteco.com
The shares in SURTECO GROUP SE are listed on the official market (Prime Standard) of the Frankfurt and Munich Stock Exchanges under the ticker symbol SUR and ISIN DE0005176903. They are also traded on the stock markets in Berlin, Düsseldorf and Stuttgart.
Cautionary note regarding forward-looking statements
This press release may contain statements of future forecasts or expectations and other forward-looking statements and involves known and unknown risks and uncertainties. There is therefore no guarantee for the statements and expectations expressed herein. The actual results and developments may differ substantially. The company assumes no obligation to update any forward-looking statements contained herein or to adapt such information to future results or developments.
14.07.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
SURTECO GROUP SE
+49 (0)8274 99 88-0
+49 (0)8274 99 88-5 05
Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart, Tradegate Exchange
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