WIESBADEN (dpa-AFX) - German carbon company SGL Carbon SE (SGLFF) announced Wednesday that Jürgen Köhler will take over as the chief executive officer of the company, effective January 1, 2014. Köhler will succeed Robert Koehler, who is retiring from the company at the age of 65.
'Thanks to the timely preparation, we have succeeded in implementing the transition in SGL Carbon's top management in close mutual agreement in the interests of all parties involved and above all in the interests of the Company. The new CEO Dr. Jürgen Köhler knows the Company very well and is already coordinating the implementation of the 'SGL2015' cost savings program,' Chairperson of the Supervisory Board Susanne Klatten said in a statement.
Wiesbaden-based SGL Carbon noted that the changes in board of management reflect generation change and streamlining of organization within the framework of its cost savings program 'SGL2015.' Through the program, SGL aims to sustainably enhance the Group's competitive position and simultaneously improve its profitability.
As part of the cost-savings program, the company also streamlined its board of management to three members from the current five members as of January 1, 2014. The three members will be CEO Köhler, CFO Jürgen Muth and Gerd Wingefeld.
The current Board of Management member Armin Bruch will resign by mutual agreement and leave the Company at the end of the year, and Theodore Breyer left the Board of Management at the age of 65 already on October 31, 2013.
'The major changes in the Board of Management of SGL Carbon are characterized by a generation change and a streamlining of the Group's structures. In this context, I would also like to expressly thank Armin Bruch for his many years of service to the company,' Klatten added.
Köhler was appointed as a full member of the board, effective June 1, 2013. He also then assumed responsibility for the Business Area Carbon Fibers & Composites or CFC. He has been working for SGL Group in various management positions in the two business areas Performance Products and Carbon Fibers & Composites since 2002. He began his career in 1992 at Hoechst AG and worked there and at Celanese AG for more than ten years in total.
Meanwhile, Robert Koehler retires from the company after becoming the longest-serving CEO among listed companies in the main German stock market indices. He has represented and shaped the company in the role for over two decades. During his tenure, he has played a key role in founding it in 1992 and the spin-off of SGL Carbon from Hoechst AG by way of an IPO.
On Frankfurt's Xetra, SGL shares closed Wednesday's regular trading session at 27.02 euros, down 0.40 euros or 1.46% on a volume of 88.997 shares.
Copyright RTT News/dpa-AFX
© 2013 AFX News
