At its annual meeting last week, Switzerland-based Rieter Holding Ltd. shareholders elected Erwin Stoller chairman of the Board of Directors, to succeed Kurt Feller, who has resigned upon reaching retirement age.

Feller served as chairman of the Board of Directors from 2000 until his retirement. He began his career at Rieter in 1977, first serving in the Finance Department at Rieter Machine Works Ltd., where he was named finance director and a member of the executive management in 1982. In 1984, he was appointed to the Group Executive Committee; and in 1989, he was named CEO, a position he held until 2000. He joined the Board of Directors in 1994.

Stoller joined Rieter in 1978. He was a member of the Group Executive Committee from 1992 until the end of 2007; and served as head of the Spun Yarn Systems business group from 1992 until 1996, head of the Textile Systems Division from 1996 until 2002, and head of the Automotive Systems Division from 2002 until the end of 2007.

Rieter shareholders also re-elected Dr. Rainer Hahn to the six-member board for another three-year term, approved a dividend payment of 15 Swiss francs per share and approved a capital reduction through the destruction of 167,800 registered shares that had been repurchased.

In related news, Switzerland-based Forbo Holding AG informed Rieter that it has increased its direct and indirect holdings in the company to 223,000 registered shares, equal to 5.01 percent of total voting rights.

May 13, 2008