Atotech Names Klaus-Günter Vennemann to Board of Directors; Brian Bernasek Resigns as Director

Rhea-AI Summary

Atotech (NYSE: ATC) announced the resignation of Brian Bernasek from its Board of Directors effective January 31, 2022. Klaus-Günter Vennemann has been appointed as a new Director and member of the Audit Committee, effective February 1, 2022. Vennemann is an independent director and brings management consulting experience, previously serving as CEO of OSRAM AG's General Lighting business. Atotech specializes in advanced electroplating solutions and has annual revenues of $1.2 billion, with a global presence in over 40 countries.

Positive

• Klaus-Günter Vennemann brings management consulting expertise.
• Vennemann's experience as a former CEO may strengthen leadership.
• Continued commitment to independent governance with new board member.

Negative

• Resignation of Brian Bernasek may raise concerns about board continuity.

BERLIN, Feb. 04, 2022 (GLOBE NEWSWIRE) -- Atotech (NYSE: ATC), a leading specialty chemicals technology company and a market leader in advanced electroplating solutions, announced today that Brian Bernasek, a member of the company’s Board of Directors, has resigned as a director as of January 31, 2022.

The Board has appointed Klaus-Günter Vennemann as a Director and a member of the Board’s Audit Committee, effective February 1, 2022.

Mr. Vennemann is a management consultant and a member of the Supervisory Board of Rheinmetall since 2016. He was previously the CEO of the General Lighting business unit of OSRAM AG.

The Board has determined that Mr. Vennemann is an independent director within the meaning of the New York Stock Exchange listing standards.

About Atotech
Atotech is a leading specialty chemicals technology company and a market leader in advanced electroplating solutions. Atotech delivers chemistry, equipment, software, and services for innovative technology applications through an integrated systems-and-solutions approach. Atotech solutions are used in a wide variety of end-markets, including smartphones and other consumer electronics, communications infrastructure, and computing, as well as in numerous industrial and consumer applications such as automotive, heavy machinery, and household appliances.

Atotech, headquartered in Berlin, Germany, is a team of 4,000 experts in over 40 countries generating annual revenues of $1.2 billion (2020). Atotech has manufacturing operations across Europe, the Americas, and Asia. With its well-established innovative strength and industry-leading global TechCenter network, Atotech delivers pioneering solutions combined with unparalleled on-site support for over 9,000 customers worldwide. For more information about Atotech, please visit us at atotech.com.

Contacts:

Media relations:
Susanne Richter
+49 30 349 85 418
press@atotech.com

Investor relations:
Todd Fogarty
Kekst CNC
todd.fogarty@kekstcnc.com

FAQ

Who has resigned from Atotech's Board of Directors?

Brian Bernasek resigned from Atotech's Board effective January 31, 2022.

Who was appointed to Atotech's Board after Bernasek's resignation?

Klaus-Günter Vennemann was appointed as a new Director effective February 1, 2022.

What experience does Klaus-Günter Vennemann have?

Vennemann is a management consultant and was previously the CEO of OSRAM AG's General Lighting business.

Is Klaus-Günter Vennemann considered an independent director?

Yes, Vennemann is classified as an independent director under New York Stock Exchange listing standards.

What is Atotech's annual revenue?

Atotech reported annual revenues of $1.2 billion as of 2020.