Elster Group Chief Executive Officer to step down

January 18, 2007

 

Luxembourg

Luxembourg, 18 January 2007 - Elster Group announces that Thomas Ganswindt, currently Elster Chief Executive Officer, will step down from this role with effect from today’s date.

Mr. Ganswindt has decided that he is unfortunately unable to continue in the role full time during the ongoing investigations into his previous career at Siemens. He therefore intends to leave the company in order to concentrate on clarifying matters with the investigators.

"It is with great regret that Thomas Ganswindt is taking this action, but his reasons are understandable and we respect his decision", stated Siegfried Putzer, Managing Director and Group Vice President Human Resources at Elster Group.

On an interim basis Howard Dyer (currently Chairman of the Elster Group and previously Executive Chairman before Thomas Ganswindt’s appointment) will now assume Thomas Ganswindt’s responsibilities.

A further statement regarding a replacement CEO will be made in due course.

- ENDS

For further information contact:
Nick Chaloner, Elster Group
+44 7920 597 497
Nick.chaloner@elster.com