First Sensor appoints new Chief Executive Officer

2013-06-15

Berlin, 06/15/2013 – Effective next Monday, Dr. Martin U. Schefter assumes the position of First Sensor AG’s new CEO. In the future, he and Joachim Wimmers will jointly manage the company. Dr. Schefter is replacing Dr. Hans-Georg Giering, who was a member of the company’s management board for the last 14 years and its Chief Executive Officer since 2008. The change at the top is the result of a mutual agreement. Under Giering’s direction, the company established itself as a reliable provider of customized sensor solutions around the world and grew substantially in recent years. The new management board team plans to establish First Sensor AG as one of the world’s leading sensor technology experts.

“The chances are good,” says Dr. Martin U. Schefter, the new CEO. “First Sensor owns valuable know-how and deeply committed employees. In an exciting growing market, First Sensor has become a relevant player and serves several attractive business niches.” In recent years, the company has developed unique competences in the relevant market fields – thanks to the efforts of its own employees and to the acquisition of other companies. Hence, First Sensor now boasts highly specialized development and manufacturing know-how. The rapid growth it experienced in recent years has also resulted – in a very short period of time – in a business of a size and complexity that demands new focal points to be implemented in its management and organization.

“Now is the perfect time for a change at the top,” explains departing Chief Executive Officer Dr. Giering, “because what the company needs now is a CEO who places the emphasis on different things than I did – and who enjoys these things. I will stay in close contact to the company as a shareholder and will support the new team with best efforts.”

The Chairman of the Supervisory Board of First Sensor AG, Prof. Dr. Alfred Gossner, thanks Dr. Giering for his contributions: “The decision of Dr. Giering demonstrates vision: he is handing over the control to a successor, who is placing the emphasis on different focal points, is bringing international experience to the table, and will guide the First Sensor AG securely through its next phase of growth.”
 
Based on management board’s and supervisory board’s opinion, the company is now of a size, where process optimization, internationalization and targeted marketing are priorities to globally and profitably sell the technological innovations. The appointment of Dr. Martin U. Schefter means that the position of CEO has been filled by a manager who has the essential experience required to successfully conclude the current growth period and safely take the company into the next one.

Dr. Martin U. Schefter
Dr. Martin U. Schefter studied electrical engineering from 1982 through 1989 at the TU Berlin, where he also acquired his PhD. Until December 2011, Dr. Schefter was a Managing Director with the EATON Industries Holding. During a subsequent sabbatical, he supported emerging technology businesses during their start-up phases. At EATON Industries Holding he initially integrated the Moeller GmbH Industrial Control devices business unit into EATON Holding and subsequently developed the Industrial Automation business unit. Over the course of his career, which spans around 22 years, Dr. Schefter assumed responsibility for the initial set-up, further development, growth and integration of technology companies in a variety of executive management positions or has assisted businesses as a management consultant. In the future, he and Joachim Wimmers, who has been part of the company’s management board since March 2012 as the CFO, will jointly manage the company.

Dr. Hans-Georg Giering
Dr. Giering joined the company 14 years ago. In 2008, he assumed the position of First Sensor AG’s CEO. He had a clear vision for the company from the start and for many years pursued this objective with great personal commitment. First Sensor AG has grown consistently under his direction. During the year of its IPO, the company’s revenues rose from EUR 3 million to EUR 112 million in 2012.

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