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Germany

Management Changes at Gottwald Port Technology

The Advisory Board of Gottwald Port Technology GmbH took a decision to expand the Executive Management team of the company and appointed Dr. Robert Wassmer its Chief Executive Officer (CEO) with effect from 1 June 2008. In this function, Dr. Wassmer will also be the Head of the Port Technology Segment and a member of Group Management of the holding company Demag Cranes AG.

Most recently, Dr. Wassmer was involved, as a business consultant, in profitability improvement and remediation projects. Prior to this activity, Dr. Wassmer, who holds a doctorate in mechanical engineering, held management positions at various companies including MAG Industrial Automation Systems, Bombardier and at what is known today as the Daimler Group.

Dr. Mathias Dobner, the sole member of Executive Management and CEO of Gottwald Port Technology GmbH to date, will take on the responsibilities of the Chief Operating Officer (COO) and Chief Technical Officer (CTO) in the Executive Management team in future.

Stefan Weckermann, in addition to Dr. Wassmer, was also appointed to the new Executive Management team and will become Chief Financial Officer (CFO). Most recently, Weckermann held simultaneously the positions of Head of Group Controlling of Demag Cranes AG and Director of Business Administration at Gottwald Port Technology GmbH.