Former German Finance Minister active at Fendt

MARKTOBERDORF – 11 June 2007 – The former Finance Minister of Germany, Dr. Theo Waigel, 68, has been appointed to the supervisory board of AGCO/Fendt GmbH, based in Marktoberdorf/Germany, effective July 1, 2007. The AGCO Corporation (Duluth, Georgia/USA) is one of the world's largest manufacturers and distributors of tractors and agricultural equipment. Under the Fendt brand, the internationally focussed US-based corporation produces high-tech solutions for agricultural businesses with the highest demands. Fendt has a workforce of some 2,700 employees at its locations in Marktoberdorf and Bäumenheim and is the largest employer in the region.

"We are very pleased to be able to welcome Dr. Theo Waigel as a new member of the supervisory board", commented Martin Richenhagen, President, Chairman and CEO of the AGCO Corporation, on the decision. "As a lawyer and former German finance minister, Theo Waigel is an enrichment to our company. He formed the financial and political skills of the federal government on an international level, but has remained down-to-earth with close ties to his native region." Waigel brings first-class international contacts in the agricultural sector and knows the market for agricultural equipment. Hermann Merschroth, Spokesman for the Management Board of AGCO/Fendt: "The appointment of Theo Waigel is an excellent choice: just like Fendt he is deeply rooted in the region, but is active and successful on the international economic-political stage."

Waigel, who has a doctorate in law and is a successful politician in the Christian Social Union (CSU) party, started his career as a court assessor for the district attorney at the Bavarian Regional Court in Munich and the Ministry of Finances of the Bavarian State Government. In 1982 he was elected Chairman of the CSU party in the German Parliament and, at the same time, to the Vice Chairman of the CDU/CSU parliamentary faction. In April 1989, Helmut Kohl appointed Waigel to the position of Federal Finance Minister, which he held until the change of government in 1998. Waigel was last (14th legislative period) elected Member of the German Parliament for the electoral ward of Neu-Ulm and is today a practicing lawyer.

Rückfragen:
Sepp Nuscheler
- Pressestelle -
Tel.: 08342-77343 / Fax : 08342-77220
E-mail: pressestelle@xfendt.de