PVATePla AG announced that the current CEO Dr. Arno Knebelkamp has asked for early release from his contract, and will resign from management board at his own request and by mutual agreement on June 13, 2014, the day of the Annual General Meeting. He will continue to be associated with the company in a consultancy capacity. At its meeting on March 26, 2014, the supervisory board appointed the founder of PVA TePla, Peter Abel, to the management board with effect from April 1, 2014.

Mr. Abel was previously at the helm of the company until 2011. He will take over as CEO on June 13, the day of the Annual General Meeting. Henning Doring was named as new CFO.

By resolution of the supervisory board, former head of group accounting Henning Doring is to become a new member of the management board with responsibility for finance with effect from April 1, 2014.