ALNO AG: ALNO AG supervisory board appoints new CFO

ALNO AG / Key word(s): Change of Personnel

13.07.2011 / 19:12

ALNO AG supervisory board appoints new CFO

- Ipek Demirtas new CFO

- Jörg Artmann leaves ALNO AG

Düsseldorf / Pfullendorf, July 13, 2011 - ALNO AG came to the unanimous decision at today's supervisory board meeting to appoint Ipek Demirtas (42) as the company's new CFO. Mrs. Demirtas will assume the position with immediate effect and replace outgoing CFO Jörg Artmann, who is leaving ALNO AG.

'Mrs. Demirtas is a brilliant manager with an impressive track record as a commercial manager in a variety of companies, and has the full trust of our creditor banks and major shareholders,' said Max Müller, CEO of ALNO AG. 'I am happy and honoured that we have succeeded in securing Mrs. Demirtas for the management board and I look forward to working with her.'

Ipek Demirtas has been head of group-wide finances at ALNO AG since January 2010. Before that, she was CFO and managing director of several subsidiaries of Otto Group, a market-leading provider of refuse containers. She had a high level of success in restructuring strategic business divisions throughout her commercial career at Stinnes Group, over ten years at PricewaterhouseCoopers and then as managing director of two mineral oil companies.

'I have come to know ALNO very well in the last year and a half due to the preparation and implementation of its financial restructuring measures. As such, I know that we have the strength and ability to grow profitably once again,' said Mrs. Demirtas. 'I am looking forward to my new role as CFO.'

About ALNO AG:
ALNO AG is one of Germany's leading kitchen manufacturers. It has four national production facilities and also a production facility in Dubai, and serves the German and international markets with a full range of kitchens. The ALNO Group has four brands: the core brand Alno and also Wellmann (classic/modern), Impuls (minimalist) and Pino (entry-level prices). ALNO AG has around 7,000 distribution partners and is active in more than 64 countries. In fiscal year 2010 around 1,787 employees recorded revenues of approx. EUR 467.3 million. Foreign sales accounted for 28.4% of revenues.

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Legal notice:
This press release may include forward-looking statements, which are based on the current expectations and forecasts of ALNO AG's management or its associated companies. Various known and unknown risks, uncertainties and other factors may lead to the actual results, financial position, or performance of ALNO AG and its affiliated companies deviating substantially from the estimates included herein. Neither ALNO AG nor its affiliated companies undertake to update any such forward-looking statement and to adjust these to future events or developments.

Patricia Eschenlohr
T 0172 8106376

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