Oliver Kaltner to join Cherry AG as CEO and Chairman of the Management Board

Munich, November 27, 2022 – Cherry AG [ISIN: DE000A3CRRN9] announced today that Oliver Kaltner has unanimously been appointed by the Supervisory Board as Chief Executive Officer and Chairman of the Management Board with effect from January 1, 2023. Rolf Unterberger, who has been CEO of the company since May 2018, is leaving the company at his own request and his Management Board position will end on December 31, 2022.

Oliver Kaltner brings deep and relevant experience. He spent his early career at institutions such as Electronic Arts, Sony and Microsoft. He has subsequently led several businesses including Leica Camera AG, where he served as CEO, and he brings valuable perspective both as an executive and an investor. Over his career, Oliver Kaltner has been responsible for global businesses with operations in EMEA, APAC and the Americas.

Cherry Supervisory Board chairman, Marcel Stolk, commented: “On behalf of the Cherry Supervisory Board, we thank Rolf Unterberger for his years of service to Cherry, including taking the company public in June 2021, leading the company through two successful acquisitions, and diversifying the business activities over time. He demonstrated strong leadership and a personal dedication for the benefit of shareholders, customers and Cherry team members.”

“Oliver Kaltner and Cherry are an excellent match,” continued Marcel Stolk, Chairman of the Supervisory Board. “Oliver Kaltner has a proven track record in highly successful global companies, with experience in operations, product innovation, marketing, sales, service, brand management, M&A and strategy. He is a change agent, having driven innovation and transformation for iconic brands along the value chain of hardware, software and cloud-services. Oliver brings a passion for keeping the customer at the heart of decisions and he offers a fresh perspective on our business activities. The Supervisory Board believes that Oliver is the right individual to drive our company to renewed profitable growth, and I am thrilled to work with him on this.”

"I am excited to join such a well-known brand and highly respected platform in gaming, technology for hybrid workplaces, and digital health. The company has many promising opportunities on the horizon. I am grateful to take over the business responsibility from Rolf Unterberger, and I’m thrilled to work with the Cherry team to deliver continued innovation to our passionate customers around the globe,” commented Oliver Kaltner.

Rolf Unterberger added, “I am very proud of what we have built at Cherry over the last five years. The company has demonstrated a deep commitment to excellence and innovation, and I look forward to following the company’s continued success under Oliver Kaltner’s leadership.”

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About Cherry

Cherry AG [ISIN: DE000A3CRRN9] is a global manufacturer of high-end switches for mechanical keyboards and computer input devices such as keyboards, mice and headsets for applications in the gaming & e-sports, office & hybrid workplaces, industry and healthcare sectors. Since its founding in 1953, Cherry has been synonymous with innovative, high-quality products designed specifically to meet diverse customer needs.

Cherry has its operational headquarters in Auerbach in the Upper Palatinate (Bavaria) and employs over 500 people in production facilities in Auerbach, Zhuhai (China) and Vienna (Austria) as well as in several sales offices in Auerbach, Pegnitz, Munich, Paris, Kenosha (USA), Taipei and Hong Kong.

More information is available online at: https://ir.cherry.de/

Contact:

Dr. Kai Holtmann

Investor Relations

Einsteinstraße 174, c/o Design Offices Bogenhausen, 81677 Munich, Germany

Postal address: Cherrystrasse 2, 91275 Auerbach, Germany

T +49 (0)175-1971503

F +49 (0)9643 20 61-900

E-mail: kai.holtmann@cherry.de