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Niels Erik Olsen Leaves GEA's Executive Board

The Supervisory Board of GEA Group (GEAGF.PK,GEAGY.PK) and Niels Erik Olsen (52), member of GEA's Executive Board responsible for the Business Area Solutions, have agreed on an early termination of his service agreement, which is due to expire on December 31, 2021.

Olsen steps down from his mandate with immediate effect. The CEO, Stefan Klebert, is taking over and will run the Business Area Solutions in addition to his other responsibilities.

Niels Erik Olsen joined the company in 1991 and held various management positions in GEA's former Process Engineering Segment in Europe, Asia and the USA. In 2010 he was appointed to their Segment board, before being appointed to the Executive Board of GEA effective January 1, 2016. As one of five Board members, he was responsible for the Business Area Solutions.

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