Tecan Initiates CEO Succession Process
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Tecan Group AG /
Tecan Initiates CEO Succession Process
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Männedorf, Switzerland, October 7, 2011 - The Tecan Group (SIX Swiss Exchange:
TECN) today announced that the Board of Directors has initiated a succession
process for the top management position. In the coming months, the Board of
Directors will elect a new CEO who will continue implementing Tecan's growth
strategy. Thomas Bachmann, CEO of the Group since the beginning of 2005, will be
closely involved in the process and hand over his position once a successor has
been found. His employment with Tecan will contractually end as of October
31, 2012.
As part of the strategic re-alignment over the last two years, Tecan Group has
refocused the business portfolio on its strong core areas, established a new
organisation around the life sciences and partnering business segments,
strengthened the top management and added new skills to the Board of Directors.
Based on this solid foundation, Tecan is now commencing a succession process for
the CEO.
Thomas Bachmann became CEO of Tecan Group at a time of declining results and
serious pressure from regulatory authorities and shareholders. Under his
leadership the company has improved operational effectiveness, established
credibility, expanded new businesses, and he positioned the company with a long-
term strategy. During his tenure, Tecan has achieved sales growth, improved
earnings per share and built a strong balance sheet.
Rolf Classon, Chairman of Tecan Group: "Over the last seven years, Thomas
Bachmann has been instrumental in achieving substantial progress for our firm.
Forward-looking CEO succession planning is one of our prime responsibilities as
Directors of the Board. We are convinced that this is the right time to initiate
this process, with the foundation for future accelerated growth now being laid.
By announcing it early, we are in a position to address this task
transparently."
Thomas Bachmann, CEO of Tecan Group: "In the coming months, we want to reach
further milestones in important development projects in the end-user business as
well as for our OEM partners. I am proud of what we have achieved together at
Tecan so far and I am convinced that Tecan will have a successful future ahead."
A conference call will take place today at 8:30 a.m. (CET). The call will also
be relayed by live audio webcast, which interested parties can access at
www.tecan.com. A link to the webcast will be provided immediately prior to the
event.
The dial-in numbers for the conference call are as follows:
For participants from Europe: +41 (0)91 610 5600 or +44 (0)203 059 5862 (UK)
Participants from the US: +1 (1) 866 291 4166
Participants should if possible dial in 15 minutes before the start of the
event.
About Tecan
Tecan (www.tecan.com) is a leading global provider of laboratory instruments and
solutions in biopharmaceuticals, forensics and clinical diagnostics. The company
specializes in the development, production and distribution of automated
workflow solutions for laboratories in the life sciences sector. Its clients
include pharmaceutical and biotechnology companies, university research
departments, forensic and diagnostic laboratories. As an original equipment
manufacturer (OEM), Tecan is also a leader in developing and manufacturing OEM
instruments and components that are then distributed by partner companies.
Founded in Switzerland in 1980, the company has manufacturing, research and
development sites in both Europe and North America and maintains a sales and
service network in 52 countries. In 2010, Tecan generated sales of
CHF 371 million (USD 356 million; EUR 269 million). Registered shares of Tecan
Group are traded on the SIX Swiss Exchange (TK: TECN/Reuters: TECZn.S/ ISIN:
1210019).
For further information:
Tecan Group
Dr. Rudolf Eugster Martin Brändle
Chief Financial Officer Head of Corporate Communications &
Investor Relations
investor(at)tecan.com Tel. +41 (0) 44 922 84 30
www.tecan.com Fax +41 (0) 44 922 88 89
--- End of Message ---
Tecan Group AG
Seestrasse 103 Männedorf Switzerland
ISIN: CH0012100191;
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