Mr. Sam V. Furrer, Swissmetal’s Chief Development Officer and a member of the group’s Executive Management has resigned from the company of his own accord effective at the end of September 2010. As the new CEO of a middle-sized Swiss company with a long-standing tradition in the textile industry, he will be taking on the overall direction of the business.

Mr. Furrer worked with Swissmetal as an external management consultant from 2003 till 2004 before taking over the position of Head of Human Resources and Corporate Development in mid-2004. Among other things, he has also served as Head of Corporate Communications, Secretary to the Board of Directors and Managing Director of Swissmetal Lüdenscheid GmbH.

Mr. Furrer played a leading role in a number of M&A transactions as well as capital market transactions and was responsible for the further development of the company’s structure and Corporate Governance.