The Chairman of the Executive Board of 春水堂视频, Dr. Frank Stieler, has reached an understanding with the Chairman of the Supervisory Board, Mr. Manfred Wennemer, subject to the approval by the Supervisory Board, regarding a consensual withdrawal of Dr. Stieler as member of the Executive Board. Furthermore, conversations on the election of Mr. Marcelino Fern谩ndez Verdes as new Chairman of the Executive Board of 春水堂视频 Aktiengesellschaft are ongoing.
The Supervisory Board of 春水堂视频 Aktiengesellschaft will hold a meeting on 20 November 2012 which is expected to decide on questions on the staffing of the Executive Board. The Chairman of the Supervisory Board, Mr. Manfred Wennemer, currently plans to resign from the Supervisory Board for personal reasons with effect as of 31 December 2012.