Generation change at Brose

Coburg (December 9, 2005). As of 31 December 2005, Michael Stoschek will resign as President and CEO of the Brose Group and assume chairmanship of the Brose Group. As a representative of the shareholders, he will continue to act in a consulting capacity.

Jürgen Otto (41), a graduate in economics, has been appointed head of the Brose management board and will assume this post on 1 January 2006. For the first time in the almost 100-year history of the automotive supplier, a non-family member will head the company. The decision in Otto's favor was due to his 15 years' of experience in almost all functions of the company.

Michael Stoschek: "Jürgen Otto's appointment is a sign of the continuity and long-term orientation of the Brose Group which can continue to count on the support of the third and fourth generations of the family in the future, too."

Michael Stoschek (57), the grandson of company founder Max Brose, assumed management of the company in 1971 at the age of 23. The company was then known as Metallwerk Max Brose & Co and generated a business volume of 25 million euros.

In 2005, the Brose Group is the eighth-largest privately-owned automotive supplier in the world. A market and technological leader in car doors and seats, Brose employs 8,600 people at 37 locations in 19 countries.

Stoschek has received a variety of awards during these 34 years of running the company. These include the Initiative Prize of the Stiftung Industrieforschung (2003), the German Federal Cross of Merit First Class (2004) and recently the title "Family Entrepreneur of the Year 2005".

Jürgen Otto (41), a graduate in economics, has headed the seat adjuster business division since 2001. In 2005, this business division generated turnover of some 400 million euros. After graduating in economics from the University of Würzburg, he began his professional career at Brose as a logistics planner in 1990. Before joining the board in 2001, he ran the production companies in Meerane and Coburg.


Press contact:
Gabi Rujoub
Telephone: +49 9561 21 1653
Telefax: +49 9561 21 1704
E-mail: gabi.rujoub@brose.net