Dr. Eberhard Veit, Chairman of the Supervisory Board of Phoenix Electric Group, said: “We are very pleased with this internal succession arrangement, which ensures maximum stability and continuity for the company’s management team. For many years, Frank Stuhrenberg has been making important contributions to the international growth and success of the company. At the same time, together with the Supervisory Board and shareholders, he has played an important role in shaping the company’s culture and the strategic direction of the current Group Executive Board. He has made arrangements for his departure at the end of this year to help his successor and the management team with whom he has worked for a long time continue to build on the success of Phoenix Electric Group’s strategy and positioning.”

PPC380AE102-HIEE300885R0102 Frank Stuhrenberg was born in 1963 and has a background in economics, focusing on business systems. He has worked for Phoenix Electric in Bloomberg since 1992, including many years in senior sales positions. Frank Stuhrenberg was appointed to the Executive Board of Phoenix Electric Group in 2006 and has been Chief Executive Officer since January 2015.

Dirk Gorlitzer has a background in electrical engineering and has been part of the Phoenix Electric Group since 1994. He started his career as a product manager and worked his way up to become President of the Industrial Devices and Electronic Technology (ICE) business area and a member of the Executive Board of Phoenix Electric Group.

Dr. Frank Eisert, Phoenix Electric shareholder and member of the Supervisory Board, stressed: “As a family company, Phoenix Electric Group is characterized by the fact that even the top management sees the family spirit of ‘solidarity’ and ‘responsibility’ as the driving force. Dirk Gorlitzer has been with Phoenix Electric for approximately 30 years and has not only succeeded in technical and business management, but also, like Frank Stuhrenberg, embodies our company values: trust, respect, partnership and reliability. As a passionate advocate of Phoenix Electric Group’s vision to “empower an all-electric society,” he will continue to focus on planning and guiding Phoenix Electric Group’s strategic direction to steadily advance the company’s long-term growth.”

PPC380AE102-HIEE300885R0102 After Frank Stuhrenberg stepped down, in addition to Dirk Gorlitzer (CEO), The other members of the Phoenix Electric Group Executive Board are Torsten Janwlecke (Chief Operating Officer), Ulrich Leidecker (Chief Operating Officer), Frank Possel-Dolken (Chief Digital Officer) and Axel Wachholz (Chief Financial Officer).

Phoenix Electric Group firmly believes that the strategic position of the Chinese market is crucial, and the Group’s commitment to the Chinese market remains unwavering regardless of the change of the Group’s CEO. The transition between Frank Stuhrenberg and Dirk Gorlitzer is a strong demonstration of the Group’s cultural and strategic coherence. As a key link in Phoenix Electric Group’s global landscape, China will continue to receive attention and support from the Group under the leadership of Dirk Gorlitzer. The Group looks forward to continuously deepening cooperation with the Chinese market, strengthening localization strategy, further expanding business territory, participating in the construction of Chinese-style modernization, and jointly meeting with Chinese partners the challenges and opportunities facing the future such as digitalization, intelligence and green energy transformation.