John-Ole Hansen will join the Supervisory Board of CFS where he will retain a keen interest and ownership stake in the business, and be able to provide his experience and insights to the benefit of the Company.

David Ryan who is currently Chairman of the Supervisory Board (and an Operating Partner with AEA Investors) is proposed to become Chief Executive Officer. After a brief transition period to assist David Ryan, John-Ole Hansen will end his day-to-day involvement in the Company effective December 31st.

Following receipt of appropriate advice a Shareholder meeting will be convened in the near future to formalise the change of CEO and appoint a new Chairman of the Supervisory Board.

David Ryan said: “ On behalf of the Supervisory board I would like to thank John-Ole for the tremendous achievements of CFS during his tenure. John-Ole led CFS with bold vision, strong determination and a passion for customer-value. We have a great platform to build upon, and a powerful example for his successor to follow”.

For more information:
CFS B.V., P.O. Box 1, 5760 AA Bakel, The Netherlands, Tel. +31 492 349 349, Fax +31 492 349 416, E-mail info@CFS.com

Background David Ryan
David Ryan joined AEA in 2002 as an operating partner. While involved in all aspects of the investment process, he focuses on assessing and supporting management and appraising and improving the operational performance and capabilities of businesses of interest to AEA. Based in London, David focuses on European opportunities but has also applied his experience and expertise to U.S. opportunities.
He recently co-led, with Christopher Mahan, AEA’s team on the acquisition of Convenience Food Systems of which he serves as chairman of the board. In 2002, David led AEA’s operational diligence and improvement work in relation to Symrise (formed by the merger of Haarmann & Reimer with Dragoco).

David has led businesses and operations around the world in the electronics, automotive, aerospace, and defense industries. Immediately before joining AEA, he was chief executive officer of a high-growth aftermarket services company (CRC Group) quoted on the London Stock Exchange, and he is currently chairman of that company. Earlier in his career, David was president of Invensys Energy Systems, a global supplier of industrial batteries and power systems, and he held several finance, marketing, operations, and general management roles during a 15-year career with Raychem in Europe and the U.S. David is a chartered management accountant, gaining early experience with Unilever, Black and Decker, and 3M.


CFS Lifecycle Performance
CFS specialises in performance focused solutions for the food industry, from a single machine or packaging material to a complete production line for the preparation, marination, processing, slicing and packaging of primarily meat, poultry, fish, seafood and cheese based products.
CFS offers Lifecycle Performance, supporting the performance of food processors here and now and in the longer term. Operational challenges such as variety and flexibility, cost per kg / pack, food safety and environment, are the basis of CFS' product and packaging innovation for improving output and reducing operating cost of food processors.