28 August 2015

Joep van Beurden proposed new CEO of Kendrion N.V.

The Supervisory Board of Kendrion N.V. is pleased to announce the proposed nomination of Mr Joep van Beurden (55) as the new CEO of Kendrion N.V. His nomination will be presented for approval at an Extraordinary General Meeting of Shareholders on 4 November 2015.

Joep van Beurden has served as CEO of CSR Plc. headquartered in Cambridge, the UK, from November 2007 until August 2015. In that time he has repositioned the company into a successful high-end semi-conductor business, which was recently acquired by Qualcomm. Joep began his career at Royal Dutch Shell in 1988. He then worked as a consultant at McKinsey & Co. for five years. He subsequently held various international management positions at Philips and Canesta Inc. He was CEO of NexWave Inc. from 2004 to 2007.

If approved, Joep van Beurden will take up his new position at Kendrion on 1 December 2015 and will succeed Piet Veenema, who has served as CEO for the last twelve years and under whose leadership the company has become the successful international niche player it is today.

Henk ten Hove, Chairman of the Supervisory Board: "We are very pleased with the proposed appointment of Joep van Beurden. He is an experienced international executive who knows the dynamics of a technological worldwide business very well. He has a strong track record in growing businesses strategically combined with a clear focus on performance. We are confident he is the right person to lead the company, together with the Kendrion team, into the next stage."

Profile of Kendrion N.V.

Kendrion N.V., a solution provider, develops, manufactures and markets innovative high-quality electromagnetic and mechatronic systems and components for customers all over the world. Kendrion's operations are carried out by two divisions with a total of seven business units that are focused on specific market segments, namely the Industrial Division's Industrial Magnetic Systems, Industrial Control Systems and Industrial Drive Systems business units and the Automotive Division's Passenger Car Systems, Automotive Control Systems, Commercial Vehicle Systems and Heavy Duty Systems business units.

Kendrion has leading positions in a number of business-to-business niche markets. Germany is Kendrion's main market, although other countries are becoming increasingly important.

Kendrion's activities
Kendrion develops advanced electromagnetic and mechatronic solutions for industrial and automotive applications. These are used by customers all over the world in systems such as lifts, door-locking systems, industrial robots, medical equipment, electrical switchbox systems, diesel and gasoline engines, air-conditioning installations, motor cooling systems and beverage dispensers. Kendrion's key customers include Bosch, Continental, Daimler, Delphi, Evobus, Hyundai, Siemens, ThyssenKrupp Bilstein, Volkswagen, Wabco, Yutong and ZF.

Kendrion's shares are listed on Euronext's Amsterdam market.

Zeist, 28 August 2015

The Supervisory Board
The Executive Board

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