Ad-hoc | 14 December 2004 18:11

Villeroy & Boch AG: Changes to the Management Board of Villeroy & Boch AG

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Mettlach, 14.12.04 Changes to the Management Board of Villeroy & Boch AG The Supervisory Board passed a resolution at the meeting held on 14 December 2004 to make a number of new appointments and changes to the Management Board. Dr. Bernard Wientjes, member of the Management Board, has been appointed Dutch President of Employers from 1 May 2005. Following his move to this honorary post the Wellness Division will be merged with the Bathroom and Kitchen Division and operated as the Wellness Business Segment. This business segment will subsequently be managed by Michael van der Knoop (aged 37), the former Sales and Marketing Director. Frank Göring (aged 43), former Head of the Bathroom and Kitchen Business Segment, will become a member of the Management Board on 1 January 2005 and assume the post of Head of the Bathroom and Kitchen Division. As of 1 May 2005 Frank Göring will also be responsible for the Wellness Business Segment. Richard Zimmermann, member of the Management Board and responsible for Project Business, is leaving the company at his own request after 29 years of successful service to pursue a new line of work. Peter von der Lippe, who was responsible for the Bathroom, Kitchen and Tiles Division in the Management Board, will head, as of 1 January 2005, the new Tiles Division in the Management Board, which has been created by the separation of the Tiles Business Segment. Project Business will be classified in future as a business segment of the Tiles Division. Ralf Mock, member of the Management Board and responsible for the Tableware Division, has decided for personal reasons to resign from his office on 31 December 2004. Management of his division will subsequently be taken over by the Chairman of the Management Board, Wendelin von Boch. Nicolas Luc Villeroy, (aged 43), Head of Arts de la Table and President of the French subsidiary in Paris, will head the Tableware Business Segment in Mettlach. This reduction from 6 to 4 members of the Management Board will allow the company to streamline management and strengthen the business segments below Management Board level. By appointing young international executives at top management level a succession of generation has been secured. Now that the Tiles Division will be operated independently, allowing a greater focus on its activities, a significant improvement in the results is expected in 2005. The Bathroom, Kitchen and Wellness Division and the Tableware Division are aiming to sustain their growth performance in 2005 and, as a consequence, continue the turn-around achieved over the entire company. Following on the successful completion of the modernization measures taken for tableware production a comprehensive investment programme is now planned for the Ceramic Sanitary Ware Business Segment. 50 million euros are to be invested in the next 3 – 4 years in the automation of the West European production facilities and in the expansion of the cost-effective facilities in Hungary and Romania. In this way, the high earning power of the Ceramic Sanitary Ware Business Segment, successful for years now, can be secured on the long term and further expanded. In spite of the continuing strain on the economy, Villeroy & Boch AG succeeded in increasing sales by 2.5% from January to October 2004. The EBT rose in this period from 5.7 million euros (2003) to 17.9 million euros (2004). end of ad-hoc-announcement (c)DGAP 14.12.2004 ——————————————————————————– WKN: 765723; ISIN: DE0007657231; Index: SDAX Listed: Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, München und Stuttgart 141811 Dez 04