ASSLAR (dpa-AFX) - The vacuum pump manufacturer Pfeiffer Vacuum is surprisingly parting ways with its CEO Britta Giesen. The Supervisory Board reached an amicable agreement with the manager on the immediate termination of her contract, the SDax-listed company announced on Tuesday in Asslar, Hesse. "The Supervisory Board would like to thank Dr. Britta Giesen for her services and commitment to Pfeiffer Vacuum," the statement said. It was initially unclear who would succeed Giesen and whether the search for a replacement had already begun. It was only in March that the company's Supervisory Board decided on a new Executive Board structure and appointed an additional member of the Executive Board in this context.

The vacuum pump manufacturer had recently performed better than expected under Giesen's leadership and raised its annual targets for 2023 in the fall. A record turnover of around 950 million euros was to be achieved. In terms of profitability, the management assumed an operating margin (EBIT) of around 12 percent. The remaining Management Board intends to present the figures for the past year on April 25.

On the stock exchange, the latest news only briefly led to significant price losses. By midday on Tuesday, the shares were trading almost unchanged. However, in addition to the business development, the share price is primarily determined by the involvement of the Busch Group. Busch has steadily increased its stake in Pfeiffer over the past few years and now holds just under 64 percent./ngu/mis