Stefan Gesing Appointed as New Chief Financial Officer of GROHE

Officer GROHE AG

Beirut, 5 December 2018. We are pleased to announce that Stefan Gesing will take over the position as Chief Financial Officer (CFO) of GROHE effective as of January, 14th 2019. In his role as CFO of GROHE, he will become part of the Grohe AG Management Board, reporting to Michael Rauterkus, CEO of GROHE. “We’re excited to welcome Stefan Gesing as our new CFO,” says Michael Rauterkus. “He brings extensive financial, operational, and strategic experience. This, combined with his deep industry knowledge and experience scaling high-growth companies, will be a huge asset to GROHE as we are shaping the future.”

Gesing joins GROHE from thyssenkrupp where he has served as CFO of Industrial Solutions. He was appointed to the Management Board of Industrial Solutions AG in May 2016 and, after a short time, temporarily took over its chairmanship. He served previously as Head of Controlling, Accounting & Risk at group headquarters and successfully managed thyssenkrupp AG’s business processes for many years. Before, he served in different functions of the CFO department at Deutsche Telekom AG.

“I am very happy to join GROHE as one of the most innovative brands in the market,” says Stefan Gesing. “An important aspect will be to further strengthen our global leadership position in terms of growth and profitability.”

Gesing will succeed Adam Bryson, who in September took over the role as Chief Financial Officer of LIXIL Americas.

For more information, please visit www.grohe.com

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About GROHE

GROHE is a leading global brand for complete bathroom solutions and kitchen fittings and has a total of over 6,000 employees, 2,400 of which are based in Germany. GROHE has been part of the LIXIL Group Corporation since 2014. As an international brand, GROHE pursues the brand values of technology, quality, design and sustainability, seeking to offer the “Pure joy of water”. GROHE has been developing new product categories since its inception. This includes the GROHE Blue and Red water systems and the recently-introduced GROHE Sense water security system, which is an innovative component in the growth market of smart home technology. Innovation, design and development are closely aligned with one another and are enshrined in the German site as an integrated process. As a result, GROHE products carry the seal of quality “Made in Germany”. In the past ten years alone, more than 300 design and innovation awards as well as several top rankings at the German Sustainability Award have confirmed GROHE’s success. GROHE was the first in its industry to win the German government’s CSR prize and was also featured in the renowned Fortune® magazine’s ranking of Top 50 that are “Changing the World”.

About LIXIL

LIXIL makes pioneering water and housing products that solve every day, real-life challenges, making better homes a reality for everyone, everywhere. Drawing on our Japanese heritage, we create world-leading technology and innovate to make high quality products that transform homes. But the LIXIL difference is how we do this; through meaningful design, an entrepreneurial spirit, a dedication to improving accessibility for all and responsible business growth. Our approach comes to life through industry leading brands, including INAX, GROHE, American Standard and TOSTEM. Over 70,000 colleagues operating in more than 150 countries are proud to make products that touch the lives of more than a billion people every day. Learn more at www.lixil.com

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