Changes in the management board of Praktiker Group
Walter Weber will not extend his contract, which ends September 2007
Reassignments of departmental responsibilities initiated
Kirkel, 7 September 2006 - Walter Weber, member of the management board of Praktiker Bau- und Heimwerkermärkte Holding AG responsible for administration, has notified the supervisory board today that he will not extend his contract ending September 2007. At the same time he requested that he may exclusively focus on accounting and reporting for the rest of his term due to the high additional amount of work expected to come from the first consolidation of the Max Bahr Holzhandlung GmbH & Co. KG. This request was granted by the company's supervisory board at its meeting today.
Thomas Ghabel, member of the management board responsible for finance, will, with immediate effect, take over controlling, organisation, and IT in addition to his current responsibility for finance, legal, and corporate communications. At the end of Walter Weber´s term, responsibility for accounting and reporting will be transferred to him as well.
Kersten von Schenck, chairman of the supervisory board of Praktiker Bau- und Heimwerkermärkte Holding AG said: "The supervisory board regrets very much that Walter Weber will not extend his contract. We are happy though that he will still lend his many years of experience in accounting and reporting to managing the complicated process of first consolidation of Max Bahr and the integration of the two accounting departments."
Walter Weber has been a member of the management board of Praktiker Bau- und Heimwerkermärkte Holding AG since August 2001.