Change in leadership: Wacker Neuson loses half of its Executive Board – Wacker shares lose almost double-digit | message
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CEO Martin Lehner does not want to extend his contract and is leaving the board on December 31, the company announced on Wednesday evening. However, he will be available to the company in an advisory capacity until March 31, 2021.
In addition, CFO Wilfried Trepels resigned from the Board of Management effective November 30th. Here “different views on corporate governance” were given as the reason for not extending the contract. The company announcement also contained a thank you for Trepels, but this was noticeably more cautious than that for Lehner.
From December 1, the current supervisory board and chairman of the audit committee, Kurt Helletzgruber, will take over the finance department. On January 1, he will also take over the group management. According to the information, the manager should only hold both positions temporarily.
The Wacker Neuson executive board had only been increased to four members on October 1. This step was justified with “increasing management and organizational tasks”. These now have to be shouldered by fewer managers. The company is in difficult waters due to the corona. Just two weeks ago, Wacker Neuson postponed the achievement of its strategic goals by one to two years. Sales and operating profit had collapsed in the third quarter due to the pandemic./he
Via XETRA, the Wacker share temporarily lost 9.99 percent to 15.31 euros.
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