Michael Tönnesmann, CFO and a member of the Executive Board of HOCHTIEF Concessions AG was elected chairman of the Supervisory Board of Budapest Airport. He became a member of the Supervisory Board as a result of the relevant decision made by the General Meeting of Budapest Airport on 23 April 2010, after the former chairman of the Supervisory Board, Dr. Peter Noé, the chairman of the Executive Board of HOCHTIEF Concessions AG, left the post earlier.

Michael Tönnesmann (born 1956) has been a member of the Executive Board of HOCHTIEF Concessions AG as well as CFO since November 2009. He graduated from the University of Cologne in economics in 1982 and then worked at the Daimler Group in Germany and abroad, in various positions. He held management positions in the fields of finance and business administration and as well as group-level strategic business planning and controlling projects.

From 1995 to 2002 he worked as Member of the Management Board and CFO of a production entity located in Ludwigsfelde in eastern Germany, and thereafter until to 2007 he performed the function of Member of the Management Board and CFO at a large manufacturing and sales company in Turkey. At the same time he was elected vice-president and treasurer of the German-Turkish Chamber of Commerce and Industry.

Mr. Tönnesmann became CFO of HOCHTIEF PPP Solutions GmbH in August 2007 and also a member of the Management Board of HOCHTIEF Concessions GmbH in 2008. Following his election to the post of chairman of the Supervisory Board, Mr. Tönnesmann met with the management of Budapest Airport Zrt. and also held discussions with the employee representatives of the Works Council of Budapest Airport."

Source: Budapest Airport