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Press release

Remscheid, 17 March 2014

Change in the Vaillant Group Management Board

The Vaillant Group Supervisory Board has appointed Dr-Ing Norbert Schiedeck as a Managing Director of the company. As successor to Dr Carsten Stelzer he will take over with effect from 1 April 2014 the Technology Division of the heating, ventilation and air-conditioning specialist.

Dr Norbert Schiedeck was born in Nottuln, North Rhine-Westphalia, on 13 December 1965. Having studied mechanical engineering and gained his doctorate at the Technical University Clausthal, he worked in various positions in the diesel fuel injection systems division at Robert Bosch GmbH. In 2000 he moved to Volkswagen AG where he was responsible for diverse tasks in engine production. From 2003 to 2007 Dr Schiedeck worked for ThyssenKrupp Bilstein Suspension GmbH, latterly as Technical Managing Director. Subsequently he became a member of the Board of Directors of Vossloh AG, a rail infrastructure and rail technology company, where since 2007 he has been responsible for the central departments Technology, Sales and Human Resources.

Dr Carsten Stelzer, who has been Vaillant Group Managing Director Technology since 1 September 2011, will leave the company by amicable mutual agreement with the Partners Board and the Supervisory Board on 31 March 2014. The Partners Board and the Supervisory Board thank Dr Stelzer for his work for the company.

The Vaillant Group is an internationally operating heating, ventilation and air-conditioning technology concern based in Remscheid, Germany. As one of the world's market and technology leaders, the Vaillant Group develops and produces tailor-made products, systems and services for domestic comfort. The product portfolio ranges from efficient heating appliances based on customary fuels to system solutions for using regenerative energy sources. In financial year 2012 the company, which has been family-owned since its founding in 1874, achieved with more than 12,000 employees sales totalling about €2.3 billion.