Corporate News

IBU-tec advanced materials AG: Ulrich Weitz will not move to the Supervisory Board in 2023

• Seamless transfer of Ulrich Weitz from the Executive Board to the Supervisory Board will not be implemented for corporate governance reasons
• The Weitz family and Ulrich Weitz, as major shareholders, now plan to propose Isabelle Weitz for election to the Supervisory Board at the Annual General Meeting on 26 April 2023
• Ulrich Weitz as Managing Director of IBUvolt battery materials GmbH will continue to push the business with the growth driver battery materials as planned

Weimar, 14 April 2023 – The Supervisory Board of IBU-tec advanced materials AG (“IBU-tec”, ISIN: DE000A0XYHT5) withdraws the proposal to elect Ulrich Weitz to the Supervisory Board at the Annual General Meeting on 26 April 2023 at the request of the company’s incumbent CEO, Ulrich Weitz. Thus, the Supervisory Board and Ulrich Weitz follow best practice in corporate governance and do not implement a seamless transition from the Executive Board to the Supervisory Board. As announced, Ulrich Weitz will drive IBU-tec’s growth in the field of battery materials as Managing Director of the newly founded wholly-owned subsidiary IBUvolt battery materials GmbH following his departure from the Executive Board at the end of the Annual General Meeting.

The Weitz family and Ulrich Weitz as major shareholders of IBU-tec have announced to the company that they will rather propose the election of Isabelle Weitz to the Supervisory Board at the Annual General Meeting. Isabelle Weitz has extensive international experience. After successfully completing her studies in Berlin and London, she worked as a Senior Account Executive for consulting companies, looking after international clients first from London and currently from Paris. She speaks several languages fluently.

Sandrine Cailleteau, Chairwoman of the Supervisory Board of IBU-tec AG: “As a company, we also want to meet our own high standards and the expectations of the market in the area of corporate governance. Therefore, the Supervisory Board welcomes Ulrich Weitz’s request for a cooling-off period following his position as CEO. We are also pleased that the Weitz family is documenting its strong commitment to IBU-tec: Ulrich Weitz will continue to be a decisive driving force in the further development of the battery division, which is so important, and with Isabelle Weitz, a family member is available for election to the Supervisory Board who, with her international view, can provide valuable impetus for the expansion of our company.”

Ulrich Weitz: “I am proud that with my daughter Isabelle Weitz, the next generation of our family now wants to take responsibility for the prospering of IBU-tec. I see my task in contributing my entire expertise and network to the further development of IBU-tec’s battery business with a high level of commitment. The recent operational successes in the field show that our strategy is working and IBU-tec is able to win large international groups as customers for our battery material.”

Isabelle Weitz: “I am very happy to stand for election to the Supervisory Board. It would be an honor for me to be able to help shape further chapters in IBU-tec’s international success story. My family and I are absolutely convinced of the company’s potential, which is why I would like to get personally involved and contribute to IBU-tec.”

About IBU-tec

The IBU-tec Group develops and produces innovative materials of the highest quality for industry. It combines unique thermal process technology, some of which is patented, with the process and material know-how of around 250 highly qualified employees.

The company’s own products include LFP battery material, which is an important component of batteries for electromobility and stationary energy storage, as well as solutions for air purification, resource conservation and the reduction of plastic packaging. IBU-tec is thus well positioned for the long term in global megatrends – especially climate and environmental protection – and has an international customer base ranging from innovative medium-sized companies to global corporations.

Contact

Investor Relations
IBU-tec advanced materials AG
Dr. Stefan Steck
Public & Investor Relations
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