Ad hoc announcement pursuant to Art. 53 LR
Changes in the Board of Directors of Swiss Steel Group
Lucerne, August 31, 2023
Svein Richard Brandtzæg has informed Swiss Steel Group that he intends to leave the Board of Directors as of 5 October 2023. Dr. Brandtzæg explains his decision with his workload as Chairman of dormakaba Holding AG, which role he assumed 1 May 2023.
Jens Alder, Chairman of the Board, says: “We thoroughly regret to lose our valuable Board colleague. Svein Richard Brandtzæg is our Vice Chairman of the Board of Directors and Chairman of the Compensation Committee of Swiss Steel Holding AG. We respect his decision to focus on his task at dormakaba and we thank him for his important contributions during the past three years.”
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About Swiss Steel Group
Swiss Steel Group with headquarters in Lucerne (Switzerland) is one of the world’s leading producers of special steel long products. Thanks to the exclusive use of steel scrap in electric arc furnaces, the Group is one of the most relevant companies in Europe in the circular economy and is among the market leaders in the field of sustainably produced steel - Green Steel. Swiss Steel Group has its own production and distribution entities in over 30 countries and, through its strong local presence, offers a wide range of individual solutions in the fields of engineering steel, stainless steel, and tool steel. Swiss Steel Group is listed on the SIX Swiss Exchange and generated a revenue of over EUR 4 billion in 2022 with approximately 10,000 employees.