euro adhoc: VA Technologie AG / Board of Directors (Appointments and Changes) / VA Technologie AG: Supervisory Board approves new organisational structure and enlargement of the Managing Board (E)

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At its meeting today, the Supervisory Board of the listed VA Technologie AG approved a new organisational structure. In the future, in addition to the CEO and CFO, the VA TECH Managing Board will include the chairmen of the four Group divisions, Metallurgy, Hydro Power Generation, Transmission & Distribution and Infrastructure, which are simultaneously the core businesses of VA TECH. The CEO will represent the Water Systems Division at VA TECH Board level. By linking strategic and operative management, this new structure provides for considerable intensification of Group integration and further improvements in risk management.

Consequently, Erich Becker as Chief Executive Officer and Roland Scharb as Chief Financial Officer will be joined by Gerhard Falch (Metallurgy), Christian Habegger (Hydro Power Generation), Klaus Brenner (Transmission & Distribution) and Klaus Sernetz (Infrastructure) as members of the VA TECH Managing Board.

Georg Antesberger, previously the VA TECH Managing Board member responsible for the "Power & Water" sector, will leave the Group by mutual agreement. Until now, Antesberger had headed the Hydro Power Generation, Transmission & Distribution, Water Systems and Infrastructure divisions. Under his strategic management, the Hydro Power Generation and Transmission & Distribution divisions, in particular, were strengthened considerably and could attain global TOP 2 and TOP 3 positions, respectively. Due to fundamental differences with regard to the future VA TECH organisational structure, Antesberger and the executive committee of the Supervisory Board agreed that he would resign from the Board as at November 30, 2002, in order to facilitate rapid implementation of the new management strategy.

The changes in the VA TECH Managing Board approved by the Supervisory Board will take effect immediately. The necessary amendment of the statutes (increase in the number of Managing Board members from five to six) will be formally proposed at the Annual General Meeting on April 29, 2003.


The listed VA Technologie AG (VA TECH) is a focused Technology and Service Company which provides value to customers over the entire plant life cycle. Leading international positions are held in Metallurgy, Hydro Power Generation, Transmission and Distribution, Water Systems and Infrastructure. In 2001,
VA TECH achieved sales of EUR 4 bn according to IAS with a work force of 18,847 employees.

Further inquiry note:
Wolfgang Schwaiger
Strategy, Communications and Investor Relations

phone: 43 732 6986-9222
fax: 43 732 6980-3416
Tel: +43(0)732 6986
FAX: +43(0)732 6986 3416

end of announcement euro adhoc

Emittent: VA Technologie AG
Lunzerstrasse 64
AT-4031 Linz
Tel: +43(0)732 6986
FAX: +43(0)732 6986 3416
ISIN: AT0000937453
WKN: 093745
Indizes: ATX, ATX Prime, WBI
Börsen: free trade Bayerische Börse, Berliner Wertpapierbörse; official dealing Wiener Börse AG
Branche: Technology
Sprache: Englisch