CLOPPENBURG, Germany – Derby Cycle reports a smooth transition in its management as the company’s current Chief Financial Officer (CFO), Uwe Bögershausen, will leave the company as of May 31, 2012.
Uwe Bögershausen is leaving the company at his own request for personal reasons, and on an amicable basis. He will continue to be available as a consultant for the company for all matters related to the capital markets.
Xeno Grimmelt, Chairman of the Supervisory Board stated that: “We very much regret that Uwe Bögershausen will leave the company. Derby Cycle AG has experienced many changes following its successful initial public offering in February 2011, and the arrival of Pon as a new major shareholder shortly thereafter. He successfully helped to shape this period of change, and was a driving force behind the company’s capital market orientation and the implementation of its acquisition strategy.”
Experienced in restructuring
Reiner Brüls will succeed Uwe Bögershausen as the company’s new Chief Financial Officer as of May 2, 2012, thereby ensuring a smooth transition. He has many years of experience in the commercial area, most recently as CFO of the unlisted company J. Müller AG, Brake. He has extensive experience in the management and restructuring of international organizations, and has long worked together with family shareholders.