SAF-HOLLAND S.A.:SAF-HOLLAND S.A.: Change of management maintains continuity

SAF-HOLLAND S.A.  / Key word(s): Change of Personnel

16.11.2010 16:36

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
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The issuer is solely responsible for the content of this announcement.

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Sam Martin (65), COO of SAF-HOLLAND Group and President of the American
subsidiary SAF-HOLLAND Inc., will resign from his operating activities at
the end of 2010 at his own request. He will remain available to the Company
in the future. He is expected to be nominated to join the Board of
Directors of SAF-HOLLAND S.A. at the Annual General Meeting on 28 April
2011. His responsibilities in the Management Board will be re-distributed. 
Jack Gisinger (62) will succeed him as President of the American subsidiary
SAF-HOLLAND Inc. and will take up his new position as of January 2, 2011.
At the same time, Detlef Borghardt (48) will assume the position of Deputy
CEO of the entire Group and will take over the responsibility for the
strategic planning. The COO function will therefore be dropped in the
future. Mr. Borghardt and Mr. Gisinger have been members of the Management
Board of SAF-HOLLAND since June 2007. Mr. Gisinger is Head of the Powered
Vehicle Systems Business Unit and Mr. Borghardt is responsible for the
Trailer Systems Unit.

A further change to the Management Board of SAF-HOLLAND involves the
resignation of Dr. Martin Kleinschmitt (50) as Chief Restructuring Officer
(CRO). Consistent with the completion of the Company's restructuring
program that was introduced two years ago,  he has concluded his function
of CRO as planned. Dr. Martin Kleinschmitt was appointed as an additional
member of the Management Board on August 1, 2009 and played a crucial role
in securing the Group's financing at the end of last year. He is also a
member of the Executive Board of Noerr Consulting AG, Berlin, and will
continue to act as a consultant to SAF-HOLLAND on a selective basis.

As a result of the changes outlined, the Company's Management Board will be
reduced in size from seven to five members. The downsizing of corporate
structures planned by Management is thus being continued. The Board of
Directors, the supervisory committee of the Luxembourg-based company, was
already gradually reduced from eight to the target number of five members
at the beginning of the year.

The Board of Directors

Luxembourg, November 16th, 2010



Contact:
SAF-HOLLAND Group GmbH
Barbara Zanzinger
Hauptstraße 26
63856 Bessenbach

Phone +49 6095 301-617
barbara.zanzinger@safholland.de




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Language:     English
Company:      SAF-HOLLAND S.A.
              68-70, boulevard de la Pétrusse
              L-2320 Luxembourg
              Luxemburg
Phone:        +49 6095 301 - 0
Fax:          +49 6095 301 - 260
E-mail:       info@safholland.de
Internet:     www.safholland.com
ISIN:         LU0307018795
WKN:          A0MU70
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Hamburg, München, Berlin, Düsseldorf, Stuttgart
 
End of Announcement                             DGAP News-Service
 
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