EQS-News: Vossloh extends contract of CEO Oliver Schuster until 2030

Vossloh extends contract of CEO Oliver Schuster until 2030

• The Supervisory Board has decided to entrust Oliver Schuster with the management of the rail infrastructure specialist for a further five years
• Schuster joined Vossloh as Chief Financial Officer in 2014 and has been at the head of the company since 2019

Werdohl, March 20, 2024. The Supervisory Board of Vossloh AG extended the contract of Oliver Schuster as Chief Executive Officer of Vossloh AG by a further five years until February 28, 2030. Over the past ten years, Schuster has played a key role in Vossloh's remarkable development and, together with his colleagues on the Executive Board, has successfully driven the Group's transformation into a global market leader for rail infrastructure. Under his management, the company has grown significantly faster than the market in recent years, while at the same time steadily increasing its profitability. Following his leadership the long-established enterprise from Werdohl in the Sauerland region has developed into a highly innovative solution provider and, in addition to its comprehensive portfolio of products and services relating to the rail track, has built up extensive digital expertise and developed corresponding pioneering business models.

"Under the management of Oliver Schuster, the Vossloh Group has undergone an extremely positive development. With his strategic foresight, consistent action and strong leadership, Oliver Schuster and his colleagues on the Executive Board have not only successfully steered the Group through a phase of global crises, but also sustainably strengthened Vossloh's leading position in the rail infrastructure market," says Prof. Dr. Rüdiger Grube, Chairman of the Supervisory Board of Vossloh AG. "By extending his contract, we honor his outstanding achievements and are convinced that the Vossloh Group will successfully continue its course of sustainable and profitable growth under his leadership."

Oliver Schuster, CEO of Vossloh AG: "I would like to thank the Supervisory Board for the trust they have placed in me and I am very much looking forward to continuing my work together with my highly esteemed colleagues on the Executive Board as well as the great team of around 4,000 employees worldwide. Over the past few years, we have undeniably achieved a great deal together and positioned our company in a powerful and future-proof way. From this stable base, we will continue to pursue our chosen course stringently and tirelessly and make our daily contribution to advancing sustainable mobility worldwide. Because in view of a rapidly growing world population as well as globalization and urbanization, the need for transport capacity for people and goods is growing relentlessly. Resource-saving mobility is therefore one of the critical success factors for achieving climate protection targets and thus preserving the basis of life for future generations."

Contact details for the media:

Andreas Friedemann

Phone: +49 (0) 2392 52-608

E-Mail: [email protected]

Contact details for investors:

Dr. Daniel Gavranovic

Phone: +49 (0) 2392 52-609

E-Mail: I[email protected]

Vossloh is a global technology group which for some 140 years has stood for quality, safety, customer focus, reliability and innovative strength. With its comprehensive range of rail-related products and services, Vossloh ranks among the world market leaders in this sector. Vossloh offers a uniquely broad range of products and services under one roof: Rail fastening systems, concrete ties, switch systems and crossings, as well as innovative and increasingly digital-based services for the entire life cycle of rails and switches. Vossloh uses its systemic understanding of the track to address the central customer need of "availability of the rail track".

Vossloh products and services are in use in more than 100 countries. With some 75 Group companies in almost 30 countries and over 40 production locations, Vossloh is active locally worldwide. Vossloh is committed to sustainable corporate governance and climate protection and with its products and services makes an important contribution to the sustainable mobility of people and goods.

The Group's activities are organized into the three divisions Core Components, Customized Modules, and Lifecycle Solutions. In financial year 2022, Vossloh generated sales revenues of €1,046.1 million with around 3,800 employees.