The Supervisory Board of Fresenius Management SE has unanimously appointed Stephan Sturm (52) as Chief Executive Officer of Fresenius as of July 1, 2016. Stephan Sturm succeeds Ulf Mark Schneider (50), who has decided to leave the company effective June 30, 2016 to pursue another opportunity.

Ulf Mark Schneider assumed his current position as CEO of Fresenius on May 28, 2003. Under his leadership, the company has seen significant growth. Group sales have increased fourfold and net income rose more than twelvefold.

Gerd Krick, Chairman of Fresenius Management SE’s Supervisory Board, commented: “On behalf of the Supervisory Board I would like to thank Ulf Mark Schneider for his extraordinary leadership and tremendous accomplishments over the past 13 years. He has led Fresenius through a period of exciting and sustainable growth and has truly transformed the company. While we regret his departure we wish him the very best for his future endeavors.”

Stephan Sturm has served as Fresenius Group’s Chief Financial Officer since January 1, 2005. In this capacity he has made significant contributions to develop Fresenius into a leading global healthcare group. He has played a key role in major acquisitions. His innovative and highly successful financing activities facilitated the company’s strong and sustainable growth. Stephan Sturm has also assured the company’s overall efficiency and profitability during this major expansion.

Gerd Krick said: “We are delighted to appoint Stephan Sturm as our new CEO. The Supervisory Board could not have wished for a better qualified and experienced leader to succeed Ulf Mark Schneider in this role. Stephan Sturm has been a member of the Fresenius Management Board for more than 11 years. He has a highly successful track-record as the Group’s CFO and has made major contributions towards executing our successful growth strategy. The appointment of Stephan Sturm as the Fresenius Group’s new CEO demonstrates continuity at the helm of the company. He has the full support of the Supervisory Board and we look forward to working with him as we continue to grow our business.”

Stephan Sturm said: “I am approaching my new role with both excitement and respect. The future of Fresenius continues to look bright. I am fully committed to meeting our targets, executing on our growth strategy and contributing to affordable high-quality healthcare around the globe.”

Fresenius confirms its guidance for 2016. Sales are expected to increase by 6% to 8% in constant currency. Net income* is expected to grow by 8% to 12% in constant currency. The company also confirms its mid-term outlook: For 2019, Group sales are expected to reach €36 billion to €40 billion**. Group net income*** is expected to increase to €2.0 billion to €2.25 billion**.

* Net income attributable to shareholders of Fresenius SE & Co. KGaA; 2015 before special items
** At comparable exchange rates; including small and mid-size acquisitions
*** Net income attributable to shareholders of Fresenius SE & Co. KGaA