Management change at Wrede Industrieholding completed

- Managing director of many years Helmut Schmidt duly discharged -

At the end of January 2018, Mr. Helmut Schmidt, Managing Director since 1989 and Spokesman of Wrede Industrieholding GmbH & Co. KG, Arnsberg since 2015, retired shortly after his 65th birthday at a festive ceremony. During his almost 29 years in the business, he has made a significant contribution to the Wrede Group's profitable growth and its development into a global player with 12 production sites in Europe, North and South America and Asia.

When Helmut Schmidt came to power in mid-1989, the company essentially consisted of a 37% stake in Pfleiderer Industrie (formerly Duropal) and the decor printer Interprint in Arnsberg. At that time, a turnover of € 33 million was achieved with 150 employees, predominantly in Germany. Together with the then managing partner Thomas Wrede, chairman of the company's advisory board since 2015, the conversion and expansion of the Wrede Group to today's size began with more than 2,000 employees and a turnover of over € 400 million.

"Helmut Schmidt was always 100% reliable. The basis for our good and successful cooperation was mutual trust, openness and respect," stressed Thomas Wrede during his speech on the occasion of Helmut Schmidt's farewell. He thanked - also in the name of the family and the advisory board - for the high personal commitment and the unrestricted loyalty and wished him all the best for the future.

Mr Schmidt thanked for the chance to help shape the group for almost 29 years. He had always felt trust and esteem, in business as well as private affairs.

With his planned appointment to the Advisory Board of Wrede Industrieholding, Mr Helmut Schmidt will continue to assume responsibility for important strategic decisions in the Wrede Group.

With effect from February 1, Mr. Michael Sindram (40) was appointed to the Management Board of Wrede Industrieholding. Michael Sindram holds a degree in business administration and studied business administration at the Universities of Hamburg and Mannheim. After completing his studies, he initially worked as a management consultant in Munich from 2003, focusing on strategy, market entry and M&A - most recently at Roland Berger Strategy Consultants. Since 2012, he has held various management positions in strategy and sales at the family-owned company Hilti.

With this personnel change, the generation change in the management has been completed. This process began in 2014 with the establishment of a family foundation and the contribution of Wrede Industrieholding to the Wrede Foundation. In mid-2015, Thomas Wrede joined the Advisory Board as its Chairman. Jens Bauer (50), who had previously held various management positions in the Group since the mid-1990s, took his place as Managing Director of Wrede Industrieholding.

"The new management team consisting of Jens Bauer and Michael Sindram has my full confidence to set the right impulses for a successful further development of the Wrede Group together", says Thomas Wrede.