AEG Power Solutions Appoints Jeffrey Casper as CEO and Dietrich Ehrmanntraut as COO

The Board of Directors of 3W Power | AEG Power Solutions, a global provider of UPS systems and power electronic solutions for industrial, commercial, renewable and distributed energy markets, announces the appointment of Jeffrey Casper as Chief Executive Officer of the Group and Dietrich Ehrmanntraut as Chief Operating Officer, effective immediately.

The appointments are an important step in the evolution of the Company with a renewed focus on operational excellence needed to achieve sustained profitable growth. Jeffrey Casper was formerly Chief Restructuring Officer and Chief Financial officer of the Group. Together with the Board of Directors, Jeffrey Casper successfully led the recovery process of AEG Power Solutions which started in December 2013 and culminated with the successful restructuring of the Group’s financial debt at the end of August.

Dr. Dirk Wolfertz, Chairman of the Board of Directors commented: “Jeffrey was instrumental in setting and managing the comprehensive restructuring process, on both the financial and operational sides. His thorough understanding of the Company and his execution capacity positions him naturally to now lead the group on a new successful path. We are also very happy that Dietrich Ehrmanntraut has joined AEG Power Solutions. He brings a wealth of experience as a leader, manager from highly competitive and dynamic industries. He brings to AEG PS a focus on continuous improvement, quality and exceptional execution in operations, which is crucial to serving our customers and markets.”

Dietrich Ehrmanntraut joined in September and initially focused on operations activities in the largest facility of the Group in Warstein-Belecke (Germany). His role as COO will now allow the Company to optimize its operating activities around the world. Dietrich Ehrmanntraut is bringing to the Group his senior in-depth and international management experience, built on years spent in the demanding automotive sector.

“AEG Power Solutions has a solid foundation to build upon”, explains Ehrmanntraut, “I’ve been struck by the wealth of expertise of the teams and by the work already done to create a leaner and more efficient organization. On the operations side, our challenge is to continue to improve our time to market and reach excellence in serving our customers.”

“I am grateful to the Board of Directors for the confidence that they have placed in me to assume the responsibilities of CEO. In the last 11 months we have refocused AEG Power Solutions on its core strengths in industrial power supplies, power control and advanced power solutions in emerging technologies such as energy storage”, comments Jeffrey Casper, CEO. “The Company has created a promising basis for a return to success. We are pursuing our change program now to reinforce our sound foundations and build an agile, customer-centric organization which can build its growth on a sound basis.”

Next to his function as CEO Jeffrey Casper will continue to also lead the finance function as the CFO. Strong management support will be provided to him by Roger de Vries, the Vice President of Accounting and Reporting and by newly hired Jens Mueller, the Vice President of Controlling. The restructuring committee of the Board of Directors, comprised of Dr. Dirk Wolfertz, Chairman of the Board, Willi Loose and Jeffrey Casper will continue to implement operational efficiencies and continuous performance necessary to bring the company to the status of sustained and consistent profitability.

Jeffrey Casper was appointed Chief Restructuring Officer on December 13, 2013 in addition to his position of Chief Financial Officer of AEG Power Solutions Group, a position he held since June 2012. Jeffrey previously served as Executive Vice President of AEG Power Solutions responsible for corporate finance, strategy and business development. Jeffrey has been at the Company since September 2009 where he was responsible for transitioning AEG Power Solutions from private equity owned to public company status, with a listing on the Frankfurt Stock Exchange. Prior to AEG Power Solutions, Jeffrey Casper was a Director at UBS Investment Bank in the European Leveraged Finance and Financial Sponsors Group for six years in London where he worked on a variety of deals worth more than €20bn across many countries, industries and products including leveraged buyouts, leverage loans, acquisition finance, restructurings and mergers & acquisitions. Jeffrey Casper holds an MBA from Harvard Business School and a BA in history from the University of Utah.

Dietrich Ehrmanntraut served at Yazaki Corporation from the year 2000 where he held diverse positions before he led Yazaki North & Central American activities in Detroit (USA). His experience spanned a wide range of roles, starting in sales, but quickly moving to operations first for Yazaki wiring division then for the whole group in Europe. Prior to his career at Yazaki Dietrich Ehrmanntraut served mainly at United Technologies Automotive in several European countries. He started there in 1988 as design engineer and quickly led major programs such as Renault Laguna one or later the Ford Focus and was finally appointed General Manager Central Europe in 1998. Dietrich Ehrmanntraut holds a degree in mechanical engineering from the RWTH Aachen.

About 3W Power/AEG Power Solutions:

3W Power S.A. (WKN A114Z9 / ISIN LU1072910919), based in Luxembourg, is the holding company of AEG Power Solutions Group. The Group is headquartered in Zwanenburg in the Netherlands. The shares of 3W Power are admitted to trading on Frankfurt Stock Exchange (ticker symbol: 3W9K).

For more information, visit www.aegps.com

This communication does not constitute an offer or the solicitation of an offer to buy, sell or exchange any securities of 3W Power. This communication contains forward-looking statements which include, inter alia, statements expressing our expectations, intentions, projections, estimates, and assumptions. These forward-looking statements are based on the reasonable evaluation and opinion of the management but are subject to risks and uncertainties which are beyond the control of 3W Power and, as a general rule, difficult to predict. The management and the company cannot and do not, under any circumstances, guarantee future results or performance of 3W Power and the actual results of 3W Power may materially differ from the information expressed or implied in the forward-looking statements. As a result, investors are cautioned against relying on the forward-looking statements contained herein as a basis for their investment decisions regarding 3W Power.

3W Power undertakes no obligation to update or revise any forward-looking statement contained herein.

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Contact information

AEG Power Solutions
Claire Pairault
Corporate Communications
Mobile: +33 6 19 60 91 64
claire.pairault@aegps.com
or
Hillermann Consulting
Investor Relations for AEG Power Solutions
Christian Hillermann, +49 40 320 279 10
investors@aegps.com