Dr. Werner Lohwasser to succeed Joachim Zichlarz as CEO of TDK Electronics

TDK Corporation (TSE:6762) announces that Dr. Werner Lohwasser (55) will become the new Chairman of the Management Board and Chief Executive Officer (CEO) of TDK Electronics AG, a TDK Group company, effective July 1, 2022. This was decided by the Supervisory Board of TDK Electronics. Lohwasser has been a member of the Management Board since 2018 and will retain his previous duties as Chief Operations Officer (COO) of TDK Electronics and as COO of the TDK Electronic Components Business Company in his new role. He succeeds Joachim Zichlarz, who has led the company as CEO for eight years.

"We are very pleased to have won Dr. Werner Lohwasser, an outstanding expert in both the passive components industry and TDK Electronics, for the position of CEO," said Dr. Werner Faber, Chairman of the Supervisory Board of TDK Electronics. "In recent years, Dr. Lohwasser has helped to shape the company’s successful development within the TDK Group, and in the very challenging times ahead he will continue to contribute his decades of experience gained since 1996 at TDK Electronics and its predecessor companies, as well as at the U.S. based capacitor manufacturer Kemet."

Lohwasser replaces Joachim Zichlarz, whose contract as a member of the Management Board will regularly expire effective June 30, 2022, and who is retiring. On behalf of the Management Board and the entire company, the Supervisory Board paid tribute to Zichlarz's performance for the good of the company, saying, "Joachim Zichlarz has made a very signifi­cant contribution to the overall success of TDK Electronics during his many years of service. His name is representative, among other things, for the successful integration into the TDK Group and the consistently driven orientation of our business towards the technologically demanding growth markets, particularly in automotive and industrial electronics," said Faber. "Already today, we would like to express our sincere thanks to Joachim Zichlarz for his great and sustained commitment and wish him all the best for the future!"

Since 1988, Zichlarz has held various management positions at TDK Electronics and its pre­decessor companies; in 2009, he was appointed to the Management Board of the former EPCOS AG as Chief Financial Officer (CFO), and since 2014 he has been Chairman of the Management Board, CEO and CFO.

Juergen Holzinger (56) was newly appointed to the Management Board of TDK Electronics AG. Also effective July 1, 2022, he will be responsible for finance as CFO. Holzinger has been CFO of the TDK Piezo & Protection Devices Business Group since 2009. A graduate in business administration, he has worked for TDK Electronics and its predecessor companies since 1990.

Joachim Thiele, who has been the company's Chief Sales Officer (CSO) since 2012, com­pletes the newly formed TDK Electronics Management Board.

Dr. Werner Lohwasser appointed as new Chairman of the Management Board, CEO and COO of TDK Electronics with effect from July 1, 2022.