The Supervisory Board of Hochtief AG has unanimously elected Marcelino Fernandez Verdes, Member of the Executive Board, as new Chief Executive Officer of the company. Mr. Fernandez Verdes has been a Member of the Executive Board of HOCHTIEF since April 2012. He acted as Chief Operating Officer of the company and was in charge of the HOCHTIEF Americas division.

Previously, he was a Member of the Supervisory Board for almost five years and has a long track record in the construction, concessions, and services industry. Frank Stieler has agreed to an early termination of his contract. He has resigned as CEO and has left the Executive Board with immediate effect on terms agreed with the Supervisory Board.

Manfred Wennemer, who has been a Member of the Supervisory Board since May 2010 and served as its Chairman since May 2011, declared that he will resign as Chairman and Member of the Supervisory Board for personal reasons with effect from the end of December 31, 2012.