ALSO Group: Chairman to Change

ALSO Holding AG announces that its long-serving Chairman of the Board of Directors, Thomas C. Weissmann, will leave the Board of Directors of ALSO Holding AG for personal reasons from the date of the Annual General Meeting 2014. "In addition, after 26 years working for ALSO, it is time to make room for others", comments Weissmann.

The Board of Directors deeply regrets this decision and thanks Mr Weissmann for his outstanding performance and prudent leadership of the company as CEO and Chairman. Under his management, net sales increased from around 50 million euros in 1989 to over 3 billion euros in 2010, before doubling again to more than 6 billion euros through the merger with Actebis. "The company is now a strong number three in Europe and displays a sustainable profitability which is substantially better than that of the competition. So I can place the fate of the company in other hands with a good conscience," says Weissmann.

In the coming months the Board of Directors will address the issue of a successor to Mr Weissmann, both as a member of the Board of Directors and as Chairman, and announce the results in good time.