- Dr. Michael Schneider cannot perform his tasks for the time being
- COO Dr. Friedrich Klein temporarily assumes the tasks of the CEO
- Management’s ability to act is ensured
(PRESS RELEASE) MAINTAL, 24-Mar-2020 — /EuropaWire/ — Dr. Michael Schneider, Chairman of the Management Board of NORMA Group, a global market leader in engineered joining technology, is currently receiving medical treatment for the respiratory disease COVID-19 due to a coronavirus infection. He will not be able to perform his tasks for the time being. The company has immediately initiated measures to protect its employees and is in discussions with the responsible health authority regarding further steps.
Dr. Friedrich Klein, Chief Operating Officer of NORMA Group, continues to perform his office without restriction and is temporarily assuming Dr. Michael Schneider’s tasks. Dr. Friedrich Klein is supported by an international management team and most of these individuals have been working from home since the beginning of last week or longer. He is continuously in close contact with the Supervisory Board of NORMA Group to track the further development of the corona crisis. The ability of NORMA Group’s management to act is thus ensured.
“We wish Dr. Michael Schneider all the best and a quick recovery,” said Dr. Friedrich Klein. “Thanks to the excellent support of the management team and the close cooperation with the Supervisory Board, I am confident that together we can cope with this difficult situation.”
NORMA Group had reacted early to the spread of the virus and continuously took all necessary steps to protect the health and safety of its employees and to be prepared for various scenarios. Several weeks ago, NORMA Group established teams at the global, regional and local levels to respond to further developments in accordance with the recommendations of the World Health Organization (WHO) and regional and local authorities. In addition to preventive measures and guidelines, such as travel restrictions and hygiene measures, emergency plans have been and are being prepared and implemented.
NORMA Group will announce its final results for 2019 this Wednesday, March 25, 2020. The impact of COVID-19 on the 2020 financial figures has yet to be determined. They are expected to be below the latest known market expectations.
For press information, please contact:
Vice President Investor Relations, Communications and Corporate Responsibility
Phone: +49 6181 6102 741
Fax: +49 6181 6102 7641
SOURCE: NORMA Group