Press Release

Change in PWO Executive Board

- CFO Bernd Bartmann retired at the end of 2020

- Successor is Dr. Cornelia Ballwießer

Oberkirch, January 4, 2021 - As already announced, with effect from December 31, 2020, CFO Bernd Bartmann (64) has left the Executive Board of Progress-Werk Oberkirch AG for retirement after serving 16 years as a Board member.

Bernd Bartmann's successor as of January 1, 2021 is Dr. Cornelia Ballwießer (55), who already assumed the role when Mr. Bartmann began his vacation on December 12, 2020. Ms. Ballweißer has been a member of the Executive Board of PWO AG since November 1, 2020.

The official event to bid farewell to Bernd Bartmann, originally planned for December 11, 2020, was unfortunately postponed to 2021 due to restrictions caused by the corona pandemic. This event will take place as soon as such public events are permitted again.

At the PWO AG Supervisory Board meeting on December 10, 2020, Supervisory Board Chairman Karl M. Schmidhuber thanked Bernd Bartmann on behalf of the entire Board for his 16 years of full commitment to PWO, during which he played a decisive role in shaping the company and provided a review of key developments during this time. He presented Bernd Bartmann with a photo book containing memories of his time in office. Herbert König, Chairman of the Works Council and employee representative on the Supervisory Board, then thanked Bernd Bartmann on behalf of the workforce.

The Supervisory Board welcomes Dr. Cornelia Ballwießer and wishes her all the best and much success in her future role as CFO and member of the Executive Board of PWO AG. The entire Board has pledged her its full support as she tackles the extensive challenges in the years ahead.

Progress-Werk Oberkirch AG
The Executive Board

Company Profile PWO
PWO is a partner to the global automotive industry for the development and production of advanced metal components and subsystems using lightweight construction. The Group has developed a unique knowledge in the forming and joining of metals over the course of its more than 100-year history since it was founded in 1919. With our expertise in cost-efficient lightweight construction, we contribute to environmentally friendly driving and greater distances.

All of the Group's more than 1,000 products contribute to automotive comfort and safety. More than 90 percent of revenue is independent of the vehicle's type of drivetrain. Approximately 3,000 employees on three continents at five production sites and four assembly plants ensure the highest level of delivery reliability and quality.