After nearly 14 years conceiving, building, leading and growing CFS to become the leading global supplier of equipment and systems to the convenience food industry, John-Ole Hansen has decided, together with the Supervisory Board, to bring forward his desired and planned transition out of day to day management in order to pursue his increasing personal interests outside the Company.

John-Ole will join the Supervisory Board of CFS where he will retain a keen interest and ownership stake in the business, and be able to provide his experience and insights to the benefit of the Company.

David Ryan who is currently Chairman of the Supervisory Board (and an Operating Partner with AEA Investors) is proposed to become Chief Executive Officer. After a brief transition period to assist David Ryan, John-Ole Hansen will end his day-to-day involvement in the Company effective December 31st.

Following receipt of appropriate advice a Shareholder meeting will be convened in the near future to formalise the change of CEO and appoint a new Chairman of the Supervisory Board.

David Ryan said: “ On behalf of the Supervisory board I would like to thank John-Ole for the tremendous achievements of CFS during his tenure. John-Ole led CFS with bold vision, strong determination and a passion for customer-value. We have a great platform to build upon, and a powerful example for his successor to follow”.

For more information:

CFS B.V., P.O. Box 1, 5760 AA  Bakel, The Netherlands
Tel. +31 492 349 349,  Fax  +31 492 349 416,  E-mail  info@CFS.com,  www.CFS.com