Kaba appoints Beat Malacarne as its new Chief Financial Officer

The Board of Directors of Kaba Holding AG has appointed Beat Malacarne (49) as the new Chief Financial Officer of Kaba Group from 1 November 2011. He will succeed Dr. Werner Stadelmann, who retires from the post on the same date.

Qualified as a certified public accountant, Beat Malacarne is currently Chief Financial Officer and Member of the Executive Board of SBB Cargo AG (Basel, Switzerland), a rail freight specialist with turnover of approximately CHF 1 billion. He previously worked for ten years in various senior financial management roles at the Holcim Group, and especially as Chief Financial Officer of various Holcim subsidiaries in Asia, including the publicly listed Siam City Cement Public Company Ltd. (Bangkok, Thailand). Before that, Malacarne was Vice President Finance at Hilti Asia Ltd. in Hong Kong.

According to Group CEO Rudolf Weber, "Beat Malacarne has a profound knowledge of the financial management of large companies. His experience of various Asian markets is an added bonus for Kaba Group." The Board of Directors and the Management Board would like to take this early opportunity to express their sincere gratitude to Dr. Werner Stadelmann for his many years of successful work at Kaba.