• Departure on best terms after 16 years on the Management Board
• Supervisory Board has started the process of finding a successor

After approximately 16 years on the Management Board of AMAG Austria Metall AG (AMAG), Gerald Mayer has expressed his wish to terminate his Management Board contract prematurely by mutual agreement in order to pursue new professional challenges. At today’s Supervisory Board meeting the Supervisory Board unanimously approved this request. Gerald Mayer has been Chief Financial Officer of AMAG since 2007 and was additionally appointed Chief Executive Officer as of March 1, 2019. During his time on the Management Board, important strategic decisions were made and, among other things, AMAG was successfully listed on the Vienna Stock Exchange.

Herbert Ortner, Chairman of the Supervisory Board of AMAG Austria Metall AG, comments: „Gerald Mayer has played a major role in shaping the positive development of AMAG. In addition to important strategic milestones, the effects of geopolitical crises as well as the COVID-19-pandemic were recently managed in an exemplary manner. We regret the step, but at the same time show understanding for it and wish him all the best for the further course of his life. The process to find a successor has immediately been initiated.”

The clear objective of the Supervisory Board is to ensure an orderly handover to the new CEO and thus to continue AMAG’s profitable growth course.

Gerald Mayer, CEO of AMAG Austria Metall AG, comments: "I am grateful that I have been able to contribute to the development of AMAG in 16 years on the Management Board together with an outstanding team. AMAG was able to more than double its revenue during this time and is undoubtedly recognised worldwide as a producer of high quality specialty products with a proven recycling strength. I am convinced of the positive future of AMAG, but for me the time has come for a professional change. I would like to thank the Supervisory Board, my colleagues on the Management Board and the entire AMAG team for the trust they have placed in me and their understanding for this step."

With Helmut Kaufmann, Chief Operating Officer of AMAG and Victor Breguncci, Chief Sales Officer of AMAG, two experienced experts continue on the Management Board of AMAG. Helmut Kaufmann’s Management Board contract was prematurely extended in the previous year until April 30, 2026. Helmut Kaufmann – as well as Gerald Mayer – has already been on the Management Board of AMAG since 2007. Victor Breguncci has been a member of the Management Board since 2019. His contract was already extended early in 2021, until May 31, 2026. The stability of the Management Board team is thus ensured.