The Board of Directors of the Oerlikon Group has announced that CEO Dr. Michael Buscher will leave the Company. The Board has appointed CFO Jürg Fedier interim CEO with immediate effect.
Michael Buscher, who led the Oerlikon Group through a phase of comprehensive restructuring since joining the company in 2010, has played a key role in the success of the company. The Board of Directors thanks Michael Buscher for his significant and lasting contributions.
The Board of Directors has appointed CFO Jürg Fedier interim Group CEO with immediate effect. Jürg Fedier, who was instrumental in the Group’s restructuring and 2012 refinancing, has been an Executive Committee member and Oerlikon CFO since 2009. Oerlikon Chairman Tim Summers said: “The Board of Directors wishes Michael Buscher all the best for the future and has complete confidence in Jürg Fedier to manage the Group’s business during this period of transition.”