Schreier to Leave Heidelberg by Year End, Supervisory Board Appoints Linzbach as the new CEO

Bernhard Schreier, CEO of Heidelberger Druckmaschinen AG (Heidelberg), will not be extending his management contract when it expires mid-year 2013 and will be leaving the company at the end of 2012. He is handing over the company's chairmanship after almost 13 years in charge.

Over recent months, key steps have been taken to set the company's new strategic course and a start has been made on putting this into practice to return Heidelberg to sustained profitable growth. What's more, the industry trade show drupa has led to the highest quarterly incoming orders in four years for the first quarter of financial year 2012/2013. The Supervisory Board and Schreier himself feel now is the right time to make the change in order to create new impetus at the very top of the company.

The Supervisory Board unanimously appointed Dr. Gerold Linzbach as Heidelberg CEO with effect from September 1, 2012. Schreier will ensure the transition goes smoothly and will accompany the handover process up till the end of the year.