SHW AG at its Supervisory Board meeting held on May 12, 2015, resolved to appoint Dr. Ing. Frank Boshoff as new member of the Management Board as of 1 July 2015. From this date, Dr. Boshoff will also serve as Chief Executive Officer.

Since 1998, Dr. Boshoff has held various management positions at KSM Castings Group GmbH, Hildesheim, with his most recent position as Chairman of the Management Board. In the same Supervisory Board meeting, company's Supervisory Board accepted the request of the current Chief Executive Officer, Dr. Ing. Thomas Buchholz, to resign from the company for personal reasons as of 30 June 2015.

This decision was made by mutual and amicable agreement with the Supervisory Board.