Cherry AG: René Schulz appointed head of Peripherals business unit

Munich, March 2, 2022 - As of April 1, 2022, René Schulz will take up his new role as head of the Peripherals business unit at Cherry.

"With his wealth of international experience in developing and implementing innovative business models as well as establishing and enhancing strategic business relationships, René Schulz is the ideal appointment for our Peripherals business unit. We are delighted to welcome Mr. Schulz to our management team and greatly look forward to working with him," commented Rolf Unterberger, CEO of Cherry AG. "At the same time, we would like to thank Matthias Völkl for his many years of successfully managing and developing this key business unit and wish him all the best for the future, both privately and professionally."

René Schulz has over 17 years of international management experience in major corporations as well as fast-growing start-ups in the high-tech sector, including a tenure at Logitech GmbH, Munich, which began in 2015. In his most recent function as Head of Enterprise Europe, he was responsible for managing sales and marketing for Logitech GmbH's B2B business throughout Europe. With more than 120 sales and marketing employees, Mr. Schulz successfully developed and established an international, multi-level sales model during this period. Moreover, he successfully launched new product categories and established them with a global team. Logitech GmbH is part of the Logitech Group, which was founded in Switzerland in 1981, and specializes in developing, manufacturing, and distributing peripherals and computer accessories.

"I greatly look forward to taking up this new role at Cherry and I am highly convinced by the strong brand and the superior product quality as well as this rapidly growing market segment for the hybrid workplace. In the digital transformation of the economy, it is more vital than ever to have the right equipment at the workplace, and it is here in particular that Cherry has a great deal of untapped potential," said René Schulz. "Together with the entire team, we will continue to enhance Cherry's global market presence and expand the various distribution channels for Cherry's high-quality, state-of-the-art product portfolio for creative and productive work."

In the course of his previous professional activities, René Schulz has gained invaluable expertise in developing strategic business relationships and value creation with strategic alliance partners that include Google, Microsoft, Cisco, Dell, HP, Avaya, and Unify. Apart from his expertise in developing and implementing integrated strategies, Mr. Schulz will leverage his extensive management experience to develop highly efficient international organizations with the aim of further expanding the Peripherals business unit.

The Cherry AG Management Board has defined the expansion and diversification of the product portfolio as a strategic goal for this business unit, including the introduction of new wireless keyboards and desktop combinations for specific user groups such as creators, as well as ergonomically optimized peripherals. The strategic focus is also on penetrating regional markets, particularly in Europe, Asia and North America, through selective sales channels and, in particular, the establishment and expansion of e-commerce sales via major direct-to-consumer online marketplaces in Europe and the USA.

About Cherry

Cherry AG [ISIN: DE000A3CRRN9] is a globally operating manufacturer of high-end mechanical keyboard switches and computer input devices for applications in the fields of gaming, e-sports, office, industry, and healthcare. Since it was founded in 1953, Cherry has been synonymous with innovative, high-quality products developed specifically to meet the various needs of its customers.

Cherry has its operational headquarters in Auerbach in the Upper Palatinate region of Bavaria and employs over 550 people at production facilities in Auerbach (Germany), Zhuhai (China), and Vienna (Austria) as well as in its various sales offices in Auerbach, Paris, London, Kenosha (USA), Taipei, and Hong Kong.

More information is available online at: www.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: [email protected]