Jenoptik has announced that after 10 years in the company, Dr Michael Mertin will not renew his contract beyond June 30 2017.
Since taking over as President and CEO in 2007, the revenue of Jenoptik has increased by more than 35 per cent to €670 million at the end of 2015. Earnings after tax were sustainably in the positive range and, at the end of 2015, amounted to nearly €50 million. For fiscal year 2016, Jenoptik aims at achieving record figures for revenue and earnings, slightly surpassing the very good figures of the prior year.
‘It is with great regret that we acknowledge Dr Mertin’s decision and we thank him for the successful work in the last 10 years, in which he realigned Jenoptik and transformed it into an international high-tech company,’ said Matthias Wierlacher, chairman of the Supervisory Board. ‘This has been reflected in a sustainably profitable growth and a significantly increased share price.’
The supervisory board will now focus on the succession to Dr Mertin. ‘For that purpose we will start a structured process,’ commented Wierlacher, adding that the supervisory board thanks DrMertin for his willingness to accompany this process.