MUNICH—Rodenstock Group, based here, confirmed today that CEO Dr. Olaf Gottgens has voluntarily resigned today as CEO of Rodenstock.

The company issued a statement saying that effective immediately, Peter Korfer-Schun, long-serving chief executive of Grohe AG, has been appointed as advisor to the company on the continued implementation of the company’s growth strategy. He will focus on expanding Rodenstock’s position in the high-end sector and diversify the company’s product range by expanding its brand portfolio, according to the statement.

As the appointment of a new CEO takes place, the remaining members of the executive management board, Dr. Johannes Burtscher (CFO), Dr. Michael Kleer (COO) and Marc Oliver Schneider (CSO), will assume the responsibilities of Dr. Gottgens in an interim capacity, according to Rodenstock. The management changes have been endorsed by Bridgepoint, majority shareholder in the Rodenstock Group, and are being made as the company and Bridgepoint enter constructive refinancing negotiations with the banking syndicate about a new capital structure for the business, the company said in its statement.

Commenting on the changes, John Jetter, chairman of the Rodenstock supervisory board, said, “Dr. Gottgens had recognized the great potential of the Rodenstock brand and pointed the company in the right direction through the signing of new licensing partnerships and moves to interpret the latest fashion trends. We thank him for the commitment displayed to the company. In the future, the development potential of Rodenstock as a technology leader of outstanding optical lenses of high quality must be strengthened internationally and new growth in the area of frames realized. We see the new discussions with the banking consortium with the goal to provide fresh equity, and the deleveraging this facilitates, as a major opportunity to extend our brand portfolio and capture new growth opportunities under new leadership.”

Characterizing its financial situation, Rodenstock said in its statement: “Following what has proved to be a challenging year for the entire industry in 2009, Rodenstock has witnessed a sustained reversal in market economics. Current trading has further improved throughout 2010. Year-to-date sales and EBITDA are ahead 5.1 percent and 8 percent respectively and net cash-flow is ahead of the previous year. The company remains cash-positive, its liquidity reserves having at no time been in doubt.”