Changes in the Management Board of Kontron AG

Augsburg, June 03, 2016 – Kontron AG, a leading global provider of Embedded Computing Technology (ECT), announces changes in its CFO position. Mr. Michael Boy, previously responsible CFO, has resigned as a member of the Management Board with effect of June 30, 2016. His resignation and the termination of his contract are based on Mr. Boy’s request, who is leaving Kontron for personal reasons and by mutual agreement with the company. The Supervisory and Management Boards thank Mr. Boy expressly for his efforts and commitment, and for his dedication and achievements in the leadership and representation of the company. Michael Boy joined Kontron’s Executive Board in May 2014.
 
His successor will be Mr. Frank Gumbinger, who will take office as Chief Financial Officer no later than January 1, 2017. Frank Gumbinger looks back on many years of experience in global financial management, in executive positions as well as CFO roles. He joins Kontron from Progroup AG, where he has been CFO since 2009, managing all significant subsidiaries in Germany and abroad. Under his leadership, various refinancings - among others through the first-ever public issuance of a corporate bond - as well as restructuring, investment and acquisition measures, were successfully implemented. These measures enabled the company to grow profitably.
 
Prior to his appointment at Progroup AG, Frank Gumbinger worked for the Delton Group for almost 10 years, initially in various finance positions before he took over responsibility as Head of Corporate Development and Strategy for one business unit in 2005. In 2006 he assumed the position of CFO at the publicly listed CEAG AG. Here, he was responsible for the domestic and foreign subsidiaries in Germany, China, India and Brazil, which he managed from Germany and for some time from China.
 
"I am looking forward to this exciting new challenge of advancing Kontron’s strategic purpose by further building out a solid, rigorous finance function, thus supporting the expansion of the company’s leading market position," says Frank Gumbinger.
 
To ensure the seamless continuation of all activities until the assumption of office by Mr. Frank Gumbinger, Dr. Thomas Riegler has taken over the interim management of the finance department at Kontron.
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About Kontron
Kontron, a global leader in embedded computing technology and trusted advisor in IoT, provides a complete and integrated portfolio of hardware, software and services. Kontron creates many of the standards that drive the world’s embedded computing platforms, bringing to life numerous technologies and applications. The result is an accelerated time-to-market, reduced total-cost-of-ownership, product longevity and the best possible overall application with leading-edge, highest reliability embedded technology. Kontron is a listed company. Its shares are traded in the Prime Standard segment of the Frankfurt Stock Exchange and on other exchanges under the symbol “KBC”. For more information, please visit: www.kontron.com