Stability in unsettled times: Executive Board mandates of Klaus Weßing and Thomas Schuchardt extended

Bocholt, May 4th 2022 - The Supervisory Board of Gigaset AG (ISIN: DE0005156004), an international communications technology company, today announced that the Executive Board mandates of Klaus Weßing, CEO, and Thomas Schuchardt, CFO, will be extended.

As a result of the ongoing Corona pandemic, 2021 continued to be a challenging year for the company: New virus variants, supply difficulties with materials and pre-products as well as growing bottlenecks in logistics were just some of the issues the Gigaset Group's Executive Board had to deal with. Nevertheless, the company was able to increase its revenue and operating EBITDA for 2021 and is back in the black with a positive result of EUR 0.5 million.

In view of the merits of the Executive Board in keeping the company on track in the two pandemic years 2020 and 2021, the Supervisory Board of Gigaset AG has now extended the CEO and CFO mandates.

"Mr. Weßing has initiated a fundamental change of course at Gigaset towards digitalization and new product fields. Mr. Schuchardt has successfully secured the company's cash and liquidity situation. Together, the members of the Executive Board have kept Gigaset on course during the last two pandemic years in stormy times," said Supervisory Board Chairman Helvin Wong. "By extending the mandates, we value the performance of Mr. Weßing and Mr. Schuchardt and rely on the experience and well-rehearsed cooperation of the Executive Board in these extraordinary and turbulent times.”

Both Executive Board members thank the Supervisory Board for its confidence in them: "We are firmly convinced that Gigaset must be managed calmly and prudently. We are facing major social and economic challenges. Together, we will continue to do everything we can to ensure Gigaset's success in the interests of our shareholders and employees."

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