New Board Member
The Supervisory Board of Frauenthal Holding AG appointed DI Michael Ostermann as a member of the Executive Board from January 1, 2021 at its meeting today
Michael Ostermann takes over responsibility for the Frauenthal Automotive Division and Investor Relations. The Supervisory Board today extended the mandate of CEO Hannes Winkler by a further three years until December 31, 2023. His responsibilities include the Frauenthal Trading Division, Legal Affairs, Internal Audit and Human Resources. Erika Hochrieser, as CFO, continues to be responsible for Finance. At the request of Martin Sailer, the Supervisory Board and he have agreed not to extend his Executive Board contract, which expires on June 30, 2021. Until the end of his term of office, he will be responsible for Business Development. After that, he will work as an independent consultant and interim manager, focusing on M&A and restructuring. In addition to projects in the Frauenthal Group, his focus will be on medium-sized industrial companies in German-speaking countries.
Michael Ostermann was already a member of the Executive Board of Frauenthal Holding AG from 2005 to 2008 and before that held various positions in the Frauenthal Group for a further eleven years. He moved then to US battery manufacturer EXIDE Technologies for ten years, where he was responsible for the European and Asian markets. Most recently, he held a managing director position at iSi Automotive Holding. Johann Schallert, Chairman of the Supervisory Board, emphasizes: "We are delighted to have Michael Ostermann on board, who has a profound knowledge of our company. He was instrumental in building up our automotive division. Coupled with his international experience in the automotive and supplier industries, he will lead Frauenthal Automotive into the future."
Michael Ostermann explains, "The biggest change in the automotive industry since its inception requires us as a supplier to adapt very quickly to the new conditions. To be among the winners here is our declared goal. I look forward to achieving this with former and new colleagues in the Frauenthal Group. In parallel, we must keep an eye on global developments with the strong Chinese market and provide solutions for our customers with global answers."