Siegfried to Introduce Functional Organization

Siegfried has announced its intention to replace its current two-division structure with a functional organization effective from March 1. The company said it will increasingly market its two core capabilities - the development and production of active pharmaceutical ingredients and finished dosage forms - as a single package.

"Siegfried ... is capable of providing both the chemical synthesis of active pharmaceutical ingredients and production of finished dosage forms," CEO Rudolf Hanko said. "Our new organizational structure will make allowance for this fact."

Executive Committee Changes
The future executive committee of Siegfried will consist of seven members: Rudolf Hanko, CEO; Michael Hüsler, CFO; and Hanspeter Brun, Head of HR; will continue in the same function. Marianne Späne, formerly head of the Siegfried Generics division, will be responsible for Business Development and Sales. Hubert Stückler, formerly head of the Siegfried Actives division, will be responsible for the worldwide technical operations. Former chief communications officer, Peter Gehler, will head the Corporate Center, which includes communication, the legal department, facility management and the chairman's
office. In addition to his duties as CEO, Rudolf Hanko will assume responsibility for Research
& Development on an interim basis until the position of head of R&D is filled.