Aurubis CEO Jürgen Schachler leaves

  • Push-out Score determined
  • After about three years in the position
  • Praise for Schachler
  • Search for a successor

(exechange) — Hamburg, Germany, December 11, 2018 — Jürgen Schachler, chief executive of Aurubis, leaves. As announced by Aurubis AG in an ad-hoc statement published on Monday, December 10, 2018, Jürgen Schachler, Chief Executive Officer, leaves the largest copper producer in Europe after about three years in the role, effective June 30, 2019.

Jürgen Schachler’s move comes nine months after Fritz Vahrenholt took over as Chairman of Aurubis AG.

Aurubis will undertake a search for a successor.

“Focus on operating excellence and strategic growth”

A reason for Jürgen Schachler’s departure from the CEO post was not explicitly given. Aurubis said: “Now is the right moment to set the course for the future with a focus on operating excellence and strategic growth.”

Precise information about Jürgen Schachler’s future plans was not immediately available.

“Leave the company”

Aurubis said: “During its regular meeting today, the Supervisory Board of Aurubis AG passed a resolution stating that Mr. Jürgen Schachler, who will turn 65 at the end of July 2019, will leave the company when his contract expires on June 30, 2019.”

Share price decline

The change follows a decline in Aurubis AG’s share price of 49 percent since January 2018.

Chaired by Fritz Vahrenholt

Aurubis AG is chaired by Fritz Vahrenholt.

Vahrenholt serves as Supervisory Board member representing the shareholders. He has been a Member of the Supervisory Board of Aurubis AG since November 26, 1999 and its Chairman of the Supervisory board since March 1, 2018.

In the position of CEO since 2016

Effective July 1, 2016, Jürgen Schachler was appointed CEO of Aurubis AG.

He additionally assumed the role of Director of Industrial Relations and has been responsible for the Management of the Metal Production Segment since October 1, 2017.

He serves as Chairman of the Executive Board since July 1, 2016 and was appointed until June 30, 2019.

After studying economics at the University of Hannover, Jürgen Schachler worked at Deutsche Solvay Werke GmbH.

After additional positions in marketing and sales, he switched to what is now Arcelor Mittal Luxembourg in 1993.

He served as a member of the Management, Managing Director and Chief Executive Officer in different companies that now belong to the Arcelor Mittal Group. He has worked abroad in the US, France, Thailand and Canada.

Before starting at Aurubis, Jürgen Schachler was Chief Executive Officer at Arcelor Mittal Europe, Flat Product, Business Division South West.

He lives in Hamburg, Germany.

Schachler is a German citizen.

At the time of Jürgen Schachler’s appointment as Chief Executive Officer at Aurubis, Heinz Jörg Fuhrmann, then Chairman of the Aurubis AG Supervisory Board, had said: “With Jürgen Schachler, we have gained a manager with decades of experience who will continue Aurubis’ successful course with enthusiasm.”

At the time of his appointment as Chief Executive Officer at Aurubis, Schachler had said: “The chance and the challenge of being able to shape Aurubis’ business in the next few years in a significant position within the Group are compelling. The Group, which is a key player in the global copper industry, provides every opportunity for further positive development on a very stable foundation.”

Push-out Score determined

The Push-out Score™ determined by exechange suggests that push-out forces have contributed to the change.

Read the full story in the exechange report 51.2018 ($).