Amsterdam, 2 November 2022 (Regulated Information) — The Supervisory Board of AMG Advanced Metallurgical Group N.V. (“AMG”, EURONEXT AMSTERDAM: “AMG”) resolved during its meeting on November 2, 2022, to propose to the General Meeting of Shareholders to nominate Dr. Heinz Schimmelbusch for reappointment as CEO for an additional term of two years when his current term expires in 2023.
Supervisory Board Composition
At the Annual General Meeting (“AGM”) in May 2023, Professor Steve Hanke, Chairman of the Supervisory Board, will have served ten years on the Supervisory Board when his current term ends; Mr. Herb Depp, Chair of the Remuneration Committee, will have served ten years on the Supervisory Board when his current term ends; and Ms. Dagmar Bottenbruch, a member of the Remuneration Committee, will have served four years on the Supervisory Board when her current term ends. The Board is very pleased that all three members have agreed to continue to serve on the Supervisory Board given the current and very important phase of the Company’s strategic development. The Supervisory Board will nominate Professor Hanke, who has been a critical partner of the CEO in setting and implementing the highly successful strategic direction the Company, for a final term of two years, for reappointment by the General Meeting of Shareholders as independent member of the Supervisory Board at the 2023 AGM. In addition, the Supervisory Board will nominate for reappointment by the General Meeting of Shareholders Mr. Herb Depp and Ms. Dagmar Bottenbruch as independent members of the Supervisory Board for terms of respectively two years and final term (Mr. Depp), and four years (Ms. Bottenbruch) at the 2023 AGM.
Management Board Composition
The term of AMG’s CEO, Dr. Heinz Schimmelbusch, will end in May 2023. As extensively explained at earlier occasions, the Supervisory Board highly values the vision and leadership of Dr. Schimmelbusch and concluded that it was of the utmost importance that AMG continues to secure his leadership for the coming years as CEO and Chairman of the Management Board, in view of the critical and transformational phase of the Company’s highly successful lithium and vanadium activities, that were pioneered under his leadership and serve as the cornerstone of the Company’s long-term value creation strategy.
The Supervisory Board is extremely pleased that Dr. Schimmelbusch has agreed to be available for an extension of his term on the Management Board, if and when appointed, for two years in order to drive the growth and strategic agenda of the Company.
This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.
This press release contains regulated information as defined in the Dutch Financial Markets Supervision Act (Wet op het financieel toezicht).
AMG is a global critical materials company at the forefront of CO2 reduction trends. AMG produces highly engineered specialty metals and mineral products and provides related vacuum furnace systems and services to the transportation, infrastructure, energy, and specialty metals & chemicals end markets.
AMG Clean Energy Materials segment combines AMG’s recycling and mining operations, producing materials for infrastructure and energy storage solutions while reducing the CO2 footprint of both suppliers and customers. AMG Clean Energy Materials segment spans the vanadium, lithium, and tantalum value chains. AMG Critical Materials Technologies segment combines AMG’s leading vacuum furnace technology line with high-purity materials serving global leaders in the aerospace sector. AMG Critical Minerals segment consists of AMG’s mineral processing operations in antimony, graphite, and silicon metal.
With approximately 3,300 employees, AMG operates globally with production facilities in Germany, the United Kingdom, France, the United States, China, Mexico, Brazil, India, Sri Lanka, and Mozambique, and has sales and customer service offices in Japan (www.amg-nv.com).
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AMG Advanced Metallurgical Group N.V. +1 610 975 4979
Certain statements in this press release are not historical facts and are “forward looking.” Forward looking statements include statements concerning AMG’s plans, expectations, projections, objectives, targets, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs, plans and intentions relating to acquisitions, AMG’s competitive strengths and weaknesses, plans or goals relating to forecasted production, reserves, financial position and future operations and development, AMG’s business strategy and the trends AMG anticipates in the industries and the political and legal environment in which it operates and other information that is not historical information. When used in this press release, the words “expects,” “believes,” “anticipates,” “plans,” “may,” “will,” “should,” and similar expressions, and the negatives thereof, are intended to identify forward looking statements. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that the predictions, forecasts, projections and other forward-looking statements will not be achieved. These forward-looking statements speak only as of the date of this press release. AMG expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in AMG’s expectations with regard thereto or any change in events, conditions, or circumstances on which any forward-looking statement is based.