Palladius AG
Palladius AG consequently pursues restructuring of its automotive sector and appoints new Managing Directors
Palladius AG / Strategic Company Decision/Change of Personnel Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Munich, July 1, 2009 - Palladius AG, a Munich-based investment company listed at the Entry Standard (Open Market) of the Frankfurt Stock Exchange (ISIN DE000A0KPNJ9), today announced that the restructuring of the car dealers in Wesel and Dinslaken has been concluded and the operative business has been handed over to the shareholding managing directors. With effect as of July 1, 2009, Mr. Lutz Hermann and Mr. Torsten Langer were appointed as Managing Directors of the Böhm+Kelleners car dealers in Wesel and Dinslaken who will independently operate the car dealerships in the Lower Rhine region. Thus, the Munich-based company succeeded in reducing the operative tasks of the holding company at these locations to only a few core investment management functions, and, as a consequence, was also able to further implement the consequent cost optimization strategy within the Group. Before being appointed as Managing Directors, Mr. Lutz Hermann and Mr. Torsten Langer have already exercised central management functions for Palladius AG which they are going to give up in favor of their new positions. At the same time, both acquired 15 % of the shares in Böhm+Kelleners GmbH. The positive acquisition price was not disclosed. 'With the reorganization of our automotive sector completed, we have reached an important milestone for our whole Group', Frank Döhring, CEO of Palladius AG commented. 'This has taken us one big step closer to our goal to operate the Palladius car dealers in a largely independent and decentralized way. Mr. Lutz Hermann and Mr. Torsten Langer are two experienced managers on site who will promote the further development of the Lower Rhine region with their skills and expertise', Döhring continued. 'It is our goal to wrap up the decentralization of our automotive sector which we have been pursuing for quite some time and to limit the engagement of Palladius AG to the participation level without giving up the positive synergy effects of the large car dealer group however. This will free management capacities which can be used to identify further investment potentials in the automotive sector and to benefit from the opportunity to generate growth in automotive trade in ever changing markets through the cooperation with partners under the umbrella of Palladius AG, while at the same time granting relative independence to the individual car dealers', Döhring concluded. For more information about Palladius AG visit our website www.palladius.de. For additional information please directly contact our Public and Investor Relations Team: esVedra consulting GmbH t: +49. 89. 28 80 81 33 f: +49. 89. 28 80 81 49 ir@palladius.de About Palladius AG Palladius AG, an industrial investment company listed at the Entry Standard (Open Market) of the Frankfurt Stock Exchange, is engaged in supporting and accompanying enterprises of many branches in their future development and path to success but also invests in profitable companies with fast-growing business models. The company's investment portfolio includes automotive, healthcare and real estate participations. The company has majority or minority holdings in four German car dealers at a total of 13 locations through intermediate holdings. Furthermore, Palladius AG has participating majority or minority interests in four healthcare companies. Investments in the real estate sector include minority participations in a real estate investment fund and in two other small-size real estate companies. At present, approximately 500 employees work for the participations of Palladius AG. 01.07.2009 Financial News transmitted by DGAP ----------------------------------------------------------------------
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