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Change of organization    Turbo-Separator AG / Turbo-HKS GmbH / Turbo-Filtration Ltd. ___________________________________________________________________________________

Dear customers, partners, suppliers, dear friends

Although I may not look like it yet, I did turn 65 in the fall of 2020, making me an official retiree since October 2020. My saying has always been, "you can retire as a CEO, but not as an owner." And yet it is time to think about how things should continue in the future. The last few years in particular have demanded a lot of us, customer visits and visits to subsidiary companies were almost impossible due to COVID restrictions. These special years have made us realize that now is the time to put younger and, above all, fitter people in charge of the Turbo Group. Therefore, the time has come for me, after more than 22 years, to pass on the operational responsibility. What makes me particularly happy about this handover is that it will be our two children who will take over this responsibility together with a much younger management team. Together they have decided to continue the company in the proven manner.

Towards the end of 2022, the following changes will be implemented:

·         Official establishment of the co-management of our two children Sarah and Tobias, divided in administration and technology, but jointly determining and responsible.

·         Retirement of Ruedi Bannwart from the operational business, as well as gradual retirement of Eveline Bannwart as Chief Financial Officer. Both will still continue to be active as supervisors and on the Board of Directors.

·         The ownership structure of the entire group will remain unchanged.

Our personal opinion is that for a "new beginning" it is necessary to break with the past and that in such a maneuver the old bosses should leave. However, we will continue to be available on the Board of Directors and as owners, and thus as supervisors for the management of the companies. However, we will only do this if the new management and/or the Board of Directors asks us to do so. This reorganization has resulted in a much-rejuvenated management team consisting of all process owners: finance, sales, service, production and technology. The proven crew will help as mediators, to get a smooth transition and a good further development. We are confident that this, our decision will enable a sustainable and forward-looking development, which will contribute to the well-being of the company, and its partners. In this context I would like to thank you, dear friends and partners, for the many years of great cooperation, loyalty and goodwill. It was a great time and I will miss it. We will surely meet again sometime, somewhere - because, I am still "Turbo". I hope, and I am convinced, that you will show our new management the same trust and goodwill that you have shown me. Because one thing is particularly important to me: Partnerships are built on people, not on individuals. So, I thank you in advance for a continuing partnership.

Many thanks for all these years! Your Ruedi Bannwart

Your Ruedi Bannwart