Frequentis AG: Change on the Executive Board

Frequentis Change Executive Board 2021

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Vienna (pta028/01.04.2021/17:40 UTC+2)

Sylvia Bardach is leaving the Executive Board of Frequentis AG on 15 April 2021 after more than 30 years' successful work in building up the company. This change reflects a long-term succession plan. Mrs. Bardach will be standing for election to the Supervisory Board at the Annual General Meeting on 20 May 2021. At its meeting on 31 March 2021, the Supervisory Board appointed Peter Skerlan to succeed Sylvia Bardach as CFO with effect from 16 April 2021. 

Sylvia Bardach has worked for Frequentis for more than 30 years. From 2000 until 2007 she was Managing Director of Frequentis GmbH and since 2007 she has been a member of the Executive Board of Frequentis AG. During this time, Sylvia Bardach has played a key role in the development of Frequentis from a mid-sized enterprise with 64 employees and annual revenues of EUR 5 million to a group of companies operating worldwide with around 1,900 employees and annual revenues of approximately EUR 300 million. 

Sylvia Bardach: "After more than 30 years of intensive work building up the company, it is time for change and I am convinced that Peter Skerlan is the ideal successor. He has all the qualities required to lead the Frequentis Group into a successful future, with prudence and business expertise. I will continue to be associated with the company when I step down from the Executive Board and will do everything I can to support my successor. At the Annual General Meeting on 20 May 2021, I will therefore be standing for election to the Supervisory Board of Frequentis AG, as nominated by the majority shareholder, Frequentis Group Holding AG."

Hannes Bardach, Chairman of the Supervisory Board: "Over the past decades, Sylvia Bardach has made a significant contribution to the international growth and business success of the Frequentis Group. Under her leadership, Frequentis GmbH became a joint stock company in 2007 and the company was successfully listed on the stock market in 2019. Thanks to her dedication, expertise, and prudence, Frequentis has a very solid financial base and is very well prepared for its ongoing development. The Supervisory Board would like to thank Mrs. Bardach for her outstanding performance and many years of personal service on Frequentis’ Executive Board. Thanks to long-term succession planning, we have been able to fill the vacancy for the key role of CFO from within the company. The Supervisory Board took a very deliberate decision to appoint Peter Skerlan. He has excellent financial expertise, and his work for the company to date means that he has a good knowledge of Frequentis and its markets and products."

Norbert Haslacher, Chairman of the Executive Board of Frequentis AG, praised the achievements of Sylvia Bardach: "More than 30 years in the service of Frequentis – that says it all! During this long period, Sylvia Bardach played a significant role in the development of the Frequentis Group and our corporate culture through her business mindset, specialist knowledge, and her open and respectful character. Thanks to her business acumen and prudence, she successfully navigated the company through challenging times. It is due not least to her that the Frequentis Group was able to increase its operating result during the pandemic in 2020. Sylvia Bardach is handing over her functions to her successor in good order. I am delighted that the Supervisory Board has decided to appoint Peter Skerlan as the new CFO and look forward to working with him on the Executive Board of Frequentis AG."

Peter Skerlan (52) studied corporate management at Vienna University of Applied Sciences and business administration and accounting at the University of London. He joined Frequentis in 1999 as a business area controller. Since 2006, Peter Skerlan has been Vice President Finance with overall responsibility for financial performance and processes in the Frequentis Group. He was granted power of attorney in 2007. As CFO of Frequentis from 16 April 2021, Peter Skerlan will be responsible for all Finance departments, Human Resources, and a range of other central services such as IT and Legal. "I am looking forward to this new responsibility," says Peter Skerlan. "I have had the honour of experiencing how Sylvia Bardach has managed the administrative functions with impressive commitment and enormous diligence and made a major contribution to the sustained and positive development of the Frequentis Group. I am proud to be taking over the administrative responsibility for a technologically and financially successful company and will continue Sylvia Bardach’s work."

About FREQUENTIS

Frequentis, headquartered in Vienna, is an international supplier of communication and information systems for control centres with safety-critical tasks. Such 'control centre solutions' are developed and marketed by Frequentis in the business sectors Air Traffic Management (civil and military air traffic control, air defence) and Public Safety & Transport (police, fire brigade, ambulance services, shipping, railways). As a global player, Frequentis operates a worldwide network of branches, subsidiaries and local representatives in more than 50 countries. 

Products and solutions from Frequentis can be found in over 30,000 operator working positions and in approximately 140 countries. Founded in 1947, Frequentis considers itself to be the global market leader in voice communication systems for air traffic control with a market share of around 30%. In addition, the Frequentis Group's AIM (aeronautical information management) and AMHS (aeronautical message handling) systems, as well as GSM-R systems for Public Transport are industry leading global solutions. 

The shares of Frequentis AG are traded on the Vienna and Frankfurt Stock Exchange under the ticker symbol FQT (ISIN: ATFREQUENT09). In 2019, the Frequentis Group had about 1,850 employees worldwide and generated revenues of EUR 303.6 million and EBIT of EUR 17.2 million.

For more information, please visit www.frequentis.com

Brigitte Gschiegl, Director Corporate Communications, Frequentis AG,
brigitte.gschiegl@frequentis.com, +43 1 81150-1301

Stefan Marin, Head of Investor Relations, Frequentis AG,
stefan.marin@frequentis.com, +43 1 81150-1074

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