Bystronic AG: Alex Waser elects to retire as Bystronic CEO - Domenico Iacovelli named successor

Zurich, January 31, 2024 — Long-time Bystronic CEO Alex Waser has elected to retire as CEO. He will be succeeded by Domenico Iacovelli, who will assume the role of CEO, effective July 1, 2024.

Under Waser, Bystronic more than doubled its revenues in the last ten years. It grew organically and through strategic acquisitions, including China-based machine producer DNE and Spanish software company Kurago. Under Waser’s leadership, Bystronic has evolved from a company manufacturing sheet metal machines to a global full-solution provider in the sheet metal industry.

“I am proud of how Bystronic has evolved over the years,” said Waser. “Thanks to my incredible teams, I have enjoyed celebrating many successes with customers and our employees. I look forward to seeing my successor advance Bystronic further, and I wish him all the best.”

Iacovelli brings extensive management and leadership experience, having spent 13 of his 20 years in the sheet metal industry in CEO roles. In 2018 he was named CEO of Schuler AG and prior to that, CEO of Andritz Soutec. In April 2022, he was given additional responsibilities and named a member of the Executive Committee for ANDRITZ, as well as Head of Business Area Metals and Group Head of IT and Automation & Digitalization.

“Alex executed successfully on Bystronic’s growth strategy, expanded our global footprint and strengthened the company’s market offerings and services. We are grateful for his many contributions,” said Bystronic Board Chairman Heinz Baumgartner. “We look forward to supporting Domenico in his new role and ensuring a smooth transition. His industry knowledge and market experience will strengthen Bystronic and will be great assets as we continue to execute on our growth strategy.”

Bystronic will publish the Annual Report 2023 on February 29, 2024. As previously communicated, Bystronic expects a higher operating result with a decline in sales.

Image Alex Waser - Domenico Iacovelli

For queries:
Investor Relations
Patrizia Meier    
Mobile +41 79 637 46 33  
patrizia.meier@bystronic.com

Media Relations
Michael Präger
Mobile +41 79 870 01 43
michael.praeger@bystronic.com

About Bystronic

Bystronic (SIX: BYS) is a leading global technology company in the field of sheet metal processing. The focus is on the automation of the complete material and data flow of the cutting and bending process chain. The intelligent networking of laser cutting systems and press brakes based on innovative automation, software, and service solutions is key to achieving the comprehensive digitalization of the sheet metal processing industry.

Bystronic’s operational headquarters are located in Niederönz (Switzerland). Additional development and production sites are located in Sulgen (Switzerland), Gotha (Germany), Cazzago San Martino and San Giuliano Milanese (Italy), Tianjin, Shanghai, and Shenzhen (China), and Hoffman Estates (USA). We are active with our own sales and service companies in more than 30 countries and are represented by agents in numerous other countries.

Disclaimer

This media release has been published in English and German. Should the English translation differ from the German original, the wording of the German version shall prevail. This media release contains forward-looking statements, which are subject to uncertainty and risks. Actual future results may differ materially from those expressed in or implied by these statements. Some of these uncertainties and risks relate to factors that are beyond Bystronic’s ability to control or predict precisely, such as, in particular, future market conditions, currency fluctuations, or the behavior of other market participants, suppliers, and transport companies, as well as possible effects of the war in Ukraine and the associated sanctions. Readers are cautioned not to put undue reliance on forward-looking statements, since these relate only to the date of this communication. Bystronic disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or any other factors.