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Cicor Group announces that Peter Neumann will take over the role as Chief Financial Officer (CFO) of the company. In addition, Cicor announces a new special management incentive plan for about 30 of the company's senior managers.
Peter Neumann, 46, will join the company as of November 22, 2021 and will take over the role as CFO and member of the Group Management as of January 01, 2022. He succeeds Patric Schoch, who announced in June 2021 that he will leave Cicor at his own request as of the end of June 2022 to take up a new challenge outside the company. Patric Schoch will ensure a smooth transition until his departure from the company.
Peter Neumann has extensive business experience in finance, M&A and corporate integration. Most recently, he was Global Finance Director at Swiss based Markem-Imaje, a global provider of product identification and traceability solutions with more than 3,000 employees. He was responsible for all Commercial Finance divisions, led M&A strategy development & execution as well as an overall Finance transformation program. Peter Neumann is a German national, he holds a Master of Business Administration and a Master of Computer Science, both from University of Passau, Germany. Additionally he is a Chartered Financial Analyst (CFA) and has served as President and member of the Board of Directors of the CFA Society of Switzerland.
The Board of Directors and the Group Management warmly welcome Peter Neumann and wish him much success in his new role. Furthermore, they would like to thank Patric Schoch for his many years of great commitment for Cicor and wish him all the best for his business and private future.
As a sign of unprecedented support and to create greater alignment between Company shareholders and management, a share-based special management incentive plan is introduced for about 30 key managers of the Cicor Group. The program is fully sponsored by One Equity Partners (OEP), the anchor shareholder of Cicor, and is administered solely by the Board of Directors of the Cicor Group. This guarantees a strict compliance with the common governance and transparency guidelines. The special management incentive plan does not give rise to any obligations to OEP by Cicor and the employees concerned and creates no additional costs or liabilities for the Company or all other shareholders.
The incentive plan will be subject to a shareholders' consultative vote in the spring 2022 during the ordinary Annual General Meeting.