Changes on the Marquard & Bahls Executive Board

Dow Jones received a payment from EQS/DGAP to publish this press release.

DGAP-Media / 2018-04-20 / 10:27 
 
*The Executive Board of Marquard & Bahls AG will consist of two members in 
the future. The current CEO Christian Flach and COO Julio Tellechea will 
step down from the Executive Board end of July 2018. Mark Garrett has been 
appointed as the new CEO; no replacement is planned for the position of COO. 
Lorenz Zwingmann will continue to serve as CFO.* 
 
After far-reaching internal change processes, Marquard & Bahls is now 
increasing emphasis on the successful growth of its core business areas - 
tank storage logistics, trading and aviation fuelling. A particular focus 
here is on increasing efficiency worldwide, and a closer integration of the 
strategic holding company with its operating companies. 
 
Christian Flach as well as Julio Tellechea have decided to make their 
positions on the Executive Board of Marquard & Bahls AG available before the 
regular expiry of their contracts, to support a realignment of the company. 
The designated new CEO Mark Garrett, CEO of Borealis AG, Austria since 2007, 
brings a wealth of experience from more than 30 years in the chemicals and 
petrochemicals industry. He will take on the role of CEO on August 1, 2018. 
 
In this connection, the Supervisory Board also decided to reduce the number 
of Executive Board members from three to two. The position of COO will not 
be filled. Instead, the Managing Directors of all divisions will report 
directly to the CEO as of August 1, 2018. The position of CFO continues to 
be held by Lorenz Zwingmann, who was appointed to the Executive Board of 
Marquard & Bahls AG in January 2018. 
 
In his 25 years at Marquard & Bahls, Christian Flach has beenone of the 
formative forces in the company's successful growth. He has provided 
important input in leadership roles at Mabanaft in London and Oiltanking in 
Houston, and as Head of Human Resources at Marquard & Bahls. After four 
successful years as Managing Director of the Mabanaft Group, in September 
2009 he was appointed to the Executive Board of Marquard & Bahls AG, which 
he has chaired since January 2011. 
 
Julio Tellechea was Regional Director for the Latin American business of 
Oiltanking for ten years, during which time he significantly expanded the 
network of tank terminals. From September 2012 until the end of 2014, he was 
Managing Director of the Mabanaft Group. During this period, he also sat on 
the Executive Board of Marquard & Bahls AG - since January 2015 in the newly 
created role of COO. 
 
The shareholders and Supervisory Board thank Christian Flach and Julio 
Tellechea for their extraordinary dedication and the successes achieved, and 
wish them both all the best for the future. 
 
Marquard & Bahls AG is a Hamburg-based family-owned company that operates in 
the fields of energy supply, trading and logistics. Its core lines of 
business include trading, tank storage logistics and aviation fuelling. 
Furthermore, the company is active in dry bulk handling, renewable energies, 
carbon trading, fuel analysis and gas supply. Through its subsidiaries, 
Marquard & Bahls has a presence in 36 countries in Europe, America, Asia and 
Africa and employs around 8,000 people. www.marquard-bahls.com [1] 
 
Media contact: 
 
Thomas Kollner 
Head of Corporate Communication 
Marquard & Bahls AG 
Tel. [phone] 
[e-mail] 
 
End of Media Release 
 
Issuer: Marquard & Bahls AG 
Key word(s): Energy 
 
2018-04-20 Dissemination of a Press Release, transmitted by DGAP - a service 
of EQS Group AG. 
The issuer is solely responsible for the content of this announcement. 
 
The DGAP Distribution Services include Regulatory Announcements, 
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Archive at www.dgap.de 
676943 2018-04-20 
 
 
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(END) Dow Jones Newswires

April 20, 2018 04:26 ET (08:26 GMT)