05-07-2018 | Financial news | Press releases | Corporate & Ad-hoc news

paragon AG Converts to Partnership Limited by Shares and Bolsters Company Management With Experienced Executives

Delbrück, Germany, July 5, 2018 – Today, paragon AG [ISIN DE0005558696] is completing its conversion into a partnership limited by shares (KGaA), which was ratified by the Annual General Meeting on May 8. This change of legal form ensures that paragon will remain a family business while increasing its access to the capital market. Company founder and previous Chief Executive Officer Klaus Dieter Frers is the Chairman of the Board of paragon GmbH, which is the general partner of paragon GmbH & Co. KGaA. On September 1, long-time Hella manager Dr. Matthias Schöllmann will join management and take over as head of the automotive business.

  • Change of legal form effective today with entry into the commercial register

  • Dr. Matthias Schöllmann, formerly of Hella, to lead the automotive business starting September 1

  • Christian Johannsen, formerly of Webasto, took over as Chief Financial Officer on July 1