Joachim Nägele appointed to Executive Board of Management of Premium AEROTEC

Nägele concurrently named Executive Board of Management spokesman

The Supervisory Board of Premium AEROTEC GmbH has unanimously named Joachim Nägele (48), Head of Programmes and Sales, as a further member of the Executive Board of Management. Nägele was additionally named Executive Board of Management spokesman on an interim basis.

This step is a consequence of the absence of President and CEO Hans Lonsinger due to illness. Lonsinger will retain his position, and the Supervisory Board wishes him a complete and speedy recovery.

The appointment of Joachim Nägele to the Executive Board of Management reflects the increasing importance of his programme area in the start-up phase of the future programme Airbus A350 XWB as well as in the ramping-up of Airbus series production programmes.

The Supervisory Board approved these actions unanimously. This creates a broad base for achieving the strategic and operative objectives of Premium AEROTEC for the benefit of the company, its customers and its employees in this extraordinary situation.

Premium AEROTEC GmbH has over 6,000 employees and generated revenues of 1.1 billion euros in 2009. Its core business is the development and manufacturing of metal and carbon composite aerostructures and the associated equipment and production systems. The company has production plants in Augsburg, Bremen, Nordenham and Varel.