07. January 2020

CFO Change at Datwyler

Reto Welte will retire at the end of March, 2020, handing over to Walter Scherz.

Datwyler Chief Financial Officer (CFO) Reto Welte has decided at his own request to retire at the end of March 2020. As part of a long-term succession plan, the Board of Directors has appointed Walter Scherz as the new CFO and member of the Executive Management as of 1 April, 2020 and thanks Reto Welte for his valuable work. A smooth transition will be ensured.

Walter Scherz, the future CFO of the Datwyler Group, has extensive experience in finance, risk and change management, mergers & acquisitions (M&A) and external and internal auditing. He has worked for several years in other cultures, including the United Arab Emirates and Russia.

Walter Scherz has been CFO of the Datwyler Technical Components Division since the beginning of 2017 (annual sales of CHF 470 million). In this function, Walter Scherz has successfully developed the division's financial organization from a decentralized, branch-oriented structure into a central organization with a shared service center in Latvia. At the same time, he implemented the automation of financial processes using state-of-the-art digital systems. As a result of these two measures, Datwyler was able to realize significant cost savings and at the same time increase the efficiency of the financial organization. From 2014 to 2016, Walter Scherz was Vice President of Corporate Development and Post-Merger Integration at Datwyler's Sealing Solutions Division. Among other things, he was responsible for the evaluation of takeover targets and the integration of the acquired companies. Walter Scherz joined Datwyler in 2012 as Head of Internal Group Audit and modernized the principles and processes of internal audit, as well as risk and compliance management. Prior to joining Datwyler, he held various management positions and served as an external auditor for KPMG in Switzerland and abroad from 2003 to 2012. Walter Scherz holds a degree in business administration from the University of St. Gallen and is a certified public accountant. He also holds various certificates in risk and compliance management, M&A and internal audit.

"I am very pleased that we have been able to win a highly motivated and highly effective financial specialist as Group CFO for the Datwyler Group. He stands out due to his high level of financial expertise and valued leadership qualities. Thanks to long-term succession planning, he knows our company very well. Walter Scherz understands how to form high-performance teams and to efficiently lead them to a common goal," says Dirk Lambrecht, CEO of the Datwyler Group.

The outgoing Group CFO, Reto Welte, was responsible for the financial management of the Datwyler Group since 2009. Over the past ten years, he has been instrumental in the successful portfolio change and international expansion of the Group. The profitability of Datwyler has improved continuously over this period through various acquisitions and divestitures. "The Board of Directors and executive management would like to express their sincere thanks to Reto Welte for his loyalty and for his extremely valuable work. Under his leadership, Datwyler has, among other things, introduced a modern, central treasury management system and significantly optimized and shortened the budget and year-end closing processes. Reto Welte was highly valued internally and externally thanks to his financial expertise, his determined approach and his clear communication. We wish him all the best for the new phase of his life," says Dirk Lambrecht, CEO of the Datwyler Group.

Datwyler Group (www.datwyler.com)
The Datwyler Group is now focusing on high-quality, system-critical components and has leading positions in attractive global markets such as health care, automotive, oil & gas and general industry. With its technological leadership and recognized core competencies, delivers added value to customers in the markets served. Datwyler concentrates on markets that offer opportunities to create more value and sustain profitable growth. From the 2020 financial year, the Datwyler Group will generate annual sales of more than CHF 900 million with some 25 operating companies, sales in over 100 countries and more than 7,000 employees. The Group has been listed on the SIX Swiss Exchange since 1986 (security no. 3048677).

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Enquiries
Guido Unternährer, Head Corporate Communications, T +41 41 875 19 00

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Financial Calendar
Annual Press Conference and Analyst Conference 6 February 2020
Annual General Meeting 11 March 2020
Interim Report 2019 11 August 2020