AMAG Austria Metall AG: CEO Gerald Mayer bids farewell as the new year dawns

Gerald Mayer has expressed his desire to terminate his Management Board contract prematurely after serving on the Management Board of AMAG Austria Metall AG (AMAG) for approximately 16 years. This decision is driven by his ambition to explore new professional opportunities. On October 25, 2023's Supervisory Board meeting, his request received unanimous approval.

Gerald Mayer has been Chief Financial Officer at AMAG since 2007 and was appointed Chief Executive Officer effective March 1, 2019. During his tenure on the Management Board, he was pivotal in making significant strategic decisions, including the successful listing of AMAG on the Vienna Stock Exchange, among other accomplishments.

Herbert Ortner, the Chairman of the Supervisory Board of AMAG Austria Metall AG, commented, "Gerald Mayer has played a major role in shaping the positive development of AMAG. In addition to important strategic milestones, the effects of geopolitical crises, as well as the COVID-19 pandemic, were recently managed in an exemplary manner. We regret the step, but at the same time, show understanding for it and wish him all the best for the further course of his life. The process to find a successor has immediately been initiated."

The primary goal of the Supervisory Board is to facilitate a smooth transition to the new CEO, thereby sustaining AMAG's path of profitable growth.

Gerald Mayer, the CEO of AMAG Austria Metall AG, comments: "I am grateful that I have been able to contribute to the development of AMAG in 16 years on the Management Board together with an outstanding team. AMAG was able to more than double its revenue during this time and is undoubtedly recognised worldwide as a producer of high-quality speciality products with a proven recycling strength. I am convinced of the positive future of AMAG, but for me, the time has come for a professional change. I would like to thank the Supervisory Board, my colleagues on the Management Board and the entire AMAG team for the trust they have placed in me and their understanding for this step."

Helmut Kaufmann and Victor Breguncci, both highly experienced professionals, continue to serve on the Management Board of AMAG. Helmut Kaufmann's Management Board contract was extended ahead of schedule in the previous year, now set to last until April 30, 2026. Like Gerald Mayer, Helmut Kaufmann has been a part of AMAG's Management Board since 2007. Victor Breguncci joined the Management Board in 2019, and his contract was similarly renewed early in 2021, extending his term until May 31, 2026. This extension of contracts ensures the stability of the Management Board team.