CEO Dr. Dirk Rothweiler Leaves First Sensor AG

The CEO of First Sensor AG, Dr. Dirk Rothweiler, and the Supervisory Board today mutually agreed that Dr. Rothweiler will resign from office with effect from June 30, 2020 in the context of the change of control resulting from the public takeover by TE Connectivity Sensors Germany Holding AG.

"With the closing of the public takeover by TE Connectivity Sensors Germany Holding AG on March 12 and the approval of the annual general meeting for the domination and profit loss transfer agreement on May 26, the way forward is now cleared for the planned combination of First Sensor AG with TE Connectivity, and a new chapter of its almost 30-year success story begins for First Sensor. It is therefore the right time to hand over the lead," says CEO Dr. Dirk Rothweiler, emphasizing that he is confident the merger is the right path forward for First Sensor. "With regard to our business model and product portfolio, the merger gives us a strategic and competitive edge paired with attractive development opportunities. At the same time, it is a clear growth opportunity for the work force of First Sensor".

The Supervisory Board of First Sensor AG thanks Dr. Dirk Rothweiler for his successful work over the past three and a half years. "Dr. Dirk Rothweiler has sustainably positioned First Sensor AG for profitable growth and successfully demonstrated visible top and bottom-line improvements within a short period of time," said John Mitchell, Chairman of the Supervisory Board of First Sensor AG. "First Sensor will continue this path in the combined business with TE Connectivity and benefit from economies of scale, an international footprint and a broad product portfolio."

Until a successor is appointed, CFO Marcus Resch will take over his responsibilities in the Executive Board.

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