The Board of Directors of Axpo Holding AG has appointed Martin Schwab as the new Chief Financial Officer (CFO) to replace Rolf Bösch. Schwab is 44 and is originally from Berne. He will join Axpo Holding AG on 1 January 2011.

Martin Schwab will take over the function of CFO from Rolf Bösch, who will retire from this position at the end of the year. Schwab has been CFO at Selecta Group since 2005. He previously served as the Commercial Head of Dr. Siegrist AG, and then as the Finance Director of Selecta AG in Switzerland and Group Management Reporting Manager at the Compass Group in London, after which he was appointed Finance Director and Deputy Managing Director at the Compass Group (Switzerland) AG in Kloten.

Schwab brings his extensive experience as CFO in international companies to his appointment at Axpo Holding AG. "The appointment of a new CFO means that a successor has been found for one of the most important positions in the Axpo Group following the retirement of Rolf Bösch. In Martin Schwab, we have found an extremely competent and professional manager as CFO – he enjoys my full confidence", said Axpo Holding CEO Heinz Karrer. Schwab has a degree in business management and an executive MBA and is a Swiss certified specialist in accounting and controlling. He is married with three children and lives in Buonas.

Rolf Bösch (60) has been CFO and head of the Finance unit of Axpo Holding AG since 2002 and also served as a member of the Group Executive Board. As announced earlier in January 2010, he will assist in the transition of the new CFO and will continue to hold various Board of Directors and Board of Trustees mandates on behalf of the Group until his full retirement. Bösch will also be available as Senior Expert Finance for special duties in the Finance unit.

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