CFO transition
Pfäffikon, Schwyz, Switzerland – September 6, 2019 – Oerlikon today announced that Philipp Müller has been named Chief Financial Officer (CFO) and member of the company’s Executive Committee, effective January 1, 2020, succeeding Jürg Fedier, who will retire at the end of December 2019.
Philipp Müller has more than 15 years of financial and strategic experience across multiple industries. Most recently, he led the investor relations functions at Baker Hughes in Houston, Texas, US. Prior to that, he served as CFO of GE’s oil & gas drilling business from 2014 to 2016. Previously, Mr. Müller held various financial leadership positions in GE’s industrial businesses. Prior to that, he spent five years on GE’s corporate audit staff, where he advanced to executive audit manager at GE Healthcare. Mr. Müller has extensive international experience, having worked in over ten countries during his career. He is a German citizen and holds a Master’s degree in Business from the University of Mannheim, Germany. Philipp Müller will report to Chief Executive Officer (CEO) Dr. Roland Fischer.
“Philipp is a leader with extensive financial and international management expertise,” said Dr. Fischer. “With his strong financial and strategic skills and experience in the capital markets, he is the ideal person to help lead Oerlikon as we grow in the future.”
Jürg Fedier has served as CFO since joining Oerlikon in 2009. He is credited with successfully refinancing the company in 2010 and has played a key role in defining and executing the company strategy.
“Jürg has been at the center of Oerlikon’s transformation. With his help, we have refinanced the company, streamlined our portfolio through strategic divestments and achieved strong growth by expanding our business and leveraging our financial capabilities,” said Prof. Dr. Michael Süss, Chairman of the Board of Directors at Oerlikon. “He has contributed greatly to the company’s management team with his strong business acumen and financial skills. Largely because of his impact, Oerlikon’s profile and financial performance have improved significantly. We will miss him and wish him all the best in his retirement.”
To ensure a smooth and successful transition, Philipp Müller will join Oerlikon on October 1, 2019, and work with Jürg Fedier until the end of the year.
About Oerlikon
Oerlikon (SIX: OERL) engineers materials, equipment and surfaces and provides expert services to enable customers to have high-performance products and systems with extended lifespans. Drawing on its key technological competencies and strong financial foundation, the Group is sustaining mid-term growth by executing three strategic drivers: addressing attractive growth markets, securing structural growth and expanding through targeted mergers and acquisitions. A leading global technology and engineering Group, Oerlikon operates its business in two segments – Surface Solutions and Manmade Fibers – and has a global footprint of more than 10 500 employees at 175 locations in 37 countries. In 2018, Oerlikon generated CHF 2.6 billion in sales and invested around CHF 120 million in R&D.
Disclaimer
OC Oerlikon Corporation AG, Pfäffikon together with its affiliates, hereinafter referred to as “Oerlikon”, has made great efforts to include accurate and up-to-date information in this document. However, Oerlikon makes no representation or warranties, expressed or implied, as to the truth, accuracy or completeness of the information provided in this document. Neither Oerlikon nor any of its directors, officers, employees or advisors, nor any other person connected or otherwise associated with Oerlikon, shall have any liability whatsoever for loss howsoever arising, directly or indirectly, from any use of this document.
The contents of this document, including all statements made therein, are based on estimates, assumptions and other information currently available to the management of Oerlikon. This document contains certain statements related to the future business and financial performance or future events involving Oerlikon that may constitute forward-looking statements. The forward-looking statements contained herein could be substantially impacted by risks, influences and other factors, many of which are not foreseeable at present and/or are beyond Oerlikon’s control, so that the actual results, including Oerlikon’s financial results and operational results, may vary materially from and differ from those, expressly or implicitly, provided in the forward-looking statements, be they anticipated, expected or projected. Oerlikon does not give any assurance, representation or warranty, expressed or implied, that such forward-looking statements will be realized. Oerlikon is under no obligation to, and explicitly disclaims any obligation to, update or otherwise review its forward-looking statements, whether as a result of new information, future events or otherwise.
This document, including any and all information contained therein, is not intended as, and may not be construed as, an offer or solicitation by Oerlikon for the purchase or disposal of, trading or any transaction in any Oerlikon securities. Investors must not rely on this information for investment decisions and are solely responsible for forming their own investment decisions.
