MOLOGEN: Executive Board orients towards new commercial tasks

30-Dec-2004

MOLOGEN AG in 2004 has set course for successful marketing of its proprietary technologies and projects. In 2005 the new chapter in the development of the company will be supported by changes in the executive board. It will be reduced temporarily from three to two members. Dr. Guido Sandler, member of the executive board since January 1, 2002, will leave office according to plan as of December 31, 2004.

In 2005 it is intended to add a Chief Operative Officer to the board. Prof. Wittig, CEO of MOLOGEN, said: "MOLOGEN had a successful year 2004. We have improved our financial and result situation and have found strong partners for our projects. The outlook for 2005 is very promising. Dr. Sandler has made an important contribution over the last three years to this. Back in 1998 he has played a major role during our IPO. Now we are building our operative business and we will adjust our executive board in order to face these new tasks. In the name of the supervisory board we would like to thank Dr. Sandler for his work."

Dr. Sandler will focus on other tasks in the future, but he will give continuous support to MOLOGEN as a counselor. Matthias Reichel, Chief Financial Officer of MOLOGEN, will take over the equity finance area from Dr. Sandler.

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