Changes on the Board of Management and Supervisory Board of Sanochemia Pharmazeutika AG

12-Aug-2009 - Austria

Sanochemia Pharmazeutika AG announced changes in terms of the management of Sanochemia Pharmazeutika AG for urgent medical reasons pertaining to the former CEO/CFO Herbert Frantsits.

With immediate effect, Werner Frantsits, founder, former CEO and long-standing Chairman of the Supervisory Board, has taken up the position of CEO on an interim basis for the next nine months. The role of Chairman of the Supervisory Board for this period will be assumed by Günter Kahler, long-term General Manager of Forschungsförderungsfonds der Gewerblichen Wirtschaft and for a number of years a member of the Supervisory Board of Sanochemia. After this interim period, Werner Frantsits will reassume the position of Chairman of the Supervisory Board. Until further notice, the area of finances will be overseen by Christoph Stein who has supported the Company as a consultant in this field for the past two years.

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