Lutz Bungeroth will again be sole Member of the Executive Board

Thursday 22. May 2014

ItN Nanovation AG (ISIN DE000A0JL461) announces a change in the Board of Management. Following the realignment of the company in the past two years, Dr. Christoph Weiss states that he will not extend his contract after planned termination of May 31st, 2014. Accordingly he will leave the company on this date.

In his capacity of CEO Dr. Weiss was instrumental in ItN’s consequent refocusing on the water filtration area. In this context, the operative business of Coatings and Contracted Research was spun off into the subsidiary CeraNovis GmbH, which is not part of ItN’s core business anymore. The Supervisory Board would like to thank Dr. Weiss for his commitment and wishes him all the best for the future.

Lutz Bungeroth, who has been a board member since 2009, will take over as sole Member of the Board of Management of ItN Nanovation AG. He had already initiated comprehensive reconstruction steps when joining the company. In the past few years, he focused mainly on the business development in the water filtration area in Saudi Arabia, where ItN has successfully achieved market entry. Large orders from this region will supposedly account for a substantial share of turnover in the years to come.