Bolza-Schünemann Resigns from KBA; Company Reports Press Sales Decline

Albrecht Bolza-Schünemann is making way for personnel changes aimed at turning the division around. Preliminary figures for 2008 issued on the same day reveal that a global slump in demand and extensive restructuring measures resulted in an operating loss of over €180m in the sheetfed division, leading to a pre-tax loss for the group of more than €85m. Accepting Mr Bolza-Schünemann’s resignation, KBA chairman Dieter Rampl thanked him on behalf of management and staff for his many services to the company and the print media industry: “In a hostile economic climate such as this, when top managers’ sense of responsibility is a matter of heated public debate, we accept your decision with the greatest respect.”