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dpa-AFX: DGAP-News: Pyrolyx AG: Change in the company's executive bodies (english)

15.12.2018 - 13:30:11
Pyrolyx AG: Change in the company's executive bodies

DGAP-News: Pyrolyx AG / Key word(s): Change of Personnel
Pyrolyx AG: Change in the company's executive bodies

15.12.2018 / 13:29
The issuer is solely responsible for the content of this announcement.

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Change in the company's executive bodies

Munich, December 15, 2018 - As announced in June 2018, Bernhard Meder, one
of the largest German investor in Pyrolyx AG was appointed as interim Chief
Executive Officer of Pyrolyx AG and a member of the Management Board. It was
always Mr Meder's stated intention to vacate this position by December 2018
and eventually join the Supervisory Board of Pyrolyx AG. Under Mr Meder, the
German operations have been significantly rationalised to allow the Company
to better focus on the plant under construction in Indiana USA and
subsequent plants currently under consideration. Mr Meder's experience and
guidance has been invaluable in facilitating Pyrolyx achieving its
objectives.

Michael Triguboff, current Deputy Chairman of Pyrolyx AG, will assume the
role of Chief Executive Officer until such time as Thomas Redd, Chief
Executive Officer of Pyrolyx USA, can assume the management responsibilities
without distraction from completing the Indiana plant by its scheduled date
of operations of June 2019. Mr Triguboff represents the largest investors in
Pyrolyx AG and has been a member of the Supervisory Board of Pyrolyx AG
since 2014. Due to the dichotomy of the management board responsibilities
from that of the Supervisory Board under German corporate law, Mr Triguboff
is required to step down from his role on the Supervisory Board to ensure
continuity at the management board level.

David Groves, Chairman of the Supervisory Board of Pyrolyx AG expressed the
Board's and management's gratitude to Mr Meder for his contribution. Mr
Meder will continue to advise the Company in an unofficial capacity.

The company is also pleased to announce that Andy Stecher has been hired as
Chief Financial Officer of Pyrolyx USA Inc. Mr. Stecher has over 25 years of
experience as a senior manager of global companies, including firms with
operations in the US and Germany. Mr. Stecher is bi-lingual in English and
German and holds a Masters Degree (MBA) of Benedictine University, Lisle,
IL, and a Bachelor Degree in business administration of DePaul University,
Chicago, IL.


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15.12.2018 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de

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   Language:    English
   Company:     Pyrolyx AG
                Nymphenburger Str. 70
                80335 München
                Germany
   Phone:       +49 (0)89 856 335 50
   Fax:         +49 (0)89 856 335 55
   E-mail:      info@pyrolyx.de
   Internet:    www.pyrolyx.com
   ISIN:        DE000A2E4L42
   WKN:         A2E4L4
   Listed:      Regulated Unofficial Market in Dusseldorf, Frankfurt,
                Munich, Stuttgart




End of News DGAP News Service
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758647 15.12.2018

Bezeichnung
WKN
Börse
Kurs
Währung
±
±%
Kurs
vom
PYROLYX AG NA O.N. A2E4L4
Xetra
5,450
EUR
±0,00
±0,00%
14.12.18
17:35:59
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