Marc Solvi, 62, Chief Executive Officer of Paul Wurth S.A. since 1 January 1998, will resign from his function as of 31 December 2014 but remain member of the company’s Board of directors.

Georges Rassel, 49, since 1988 active at Paul Wurth and since 2011 member of the management as Chief Operations Officer, has been appointed by the Board of directors as successor.

Michel Wurth, Chairman of Paul Wurth’s Board of directors: “Marc Solvi has during the last 17 years with his work as Chief Executive Officer, contributed decisively to the growth and successful economic development of our group. After SMS group from Düsseldorf took a majority stake in 2012, he helped to significantly shape the integration into SMS and, consequently, laid the basis for a next step in the company’s further development. We respect his personally motivated decision to resign as Chief Executive Officer by the end of the year. We welcome very much that he will continue to accompany the company’s development with his years of experience as member of the Board of directors.”