Schaltbau Holding AG: Change in Executive Board
Volker Kregelin steps down from Executive Board as of 31 December 2021 at own request
Munich, 22 November 2021 - From January 2022 onwards, the Executive Board of Schaltbau Holding AG [ISIN DE000A2NBTL2] will comprise two instead of three members. As of 31 December 2021, in consultation with the Supervisory Board, Volker Kregelin is stepping down from his position on the Executive Board of Schaltbau Holding AG for personal reasons. CEO Dr Jürgen Brandes will take over his current duties.
During his period of office, Volker Kregelin sustainably improved the position of Schaltbau Holding AG in the field of rolling stock with its two strong brands Bode and Pintsch.
For example, he rigorously introduced a system of lean management and drove forward the restructuring of the Company's production lines and logistics processes as well as the connectivity of the Schaltbau Group's two production sites in Kassel, Germany and Rawicz, Poland. In addition to the development of new products, Bode has been able to sustainably strengthen its level of competitiveness over the last three years. The successful digitalisation of Pintsch's product portfolio is also largely due to the efforts of Volker Kregelin and Pintsch is again a leading name in the field of level crossing technology. Moreover, the new market segment "Digital Interlocking Systems" was sustainably developed under Volker Kregelin's leadership.
The Company expressly wishes to thank him for his many years of dedicated service as a member of the Executive Board of Schaltbau Holding AG and wishes him all the best for the future.
"Volker Kregelin was appointed to the Executive Board of Schaltbau Holding AG during a very difficult period and played a key role in getting the Company back on track for success," said Dr Friedel Drees, Chairman of the Supervisory Board of Schaltbau Holding AG. "I thank Volker Kregelin for his fruitful contribution and wish him every success in the next phase of his professional career."
In the coming year, CEO Dr Jürgen Brandes will assume the duties of Volker Kregelin in close collaboration with the managing directors of Schaltbau's subsidiaries. Following the closure of a voluntary public takeover offer, Voltage BidCo GmbH (Carlyle) now owns a good 78% and therefore a majority shareholding in Schaltbau Holding AG. Voltage BidCo had already announced its intention to delist the Company, a change scheduled to take place at the end of 2021 or beginning of 2022.
About the Schaltbau Group
Schaltbau Holding AG (ISIN: DE000A2NBTL2) is listed in the Prime Standard segment of the regulated market of Deutsche Börse AG in Frankfurt am Main. With annual Group revenue in the region of EUR 500 million and around 3,000 employees, Schaltbau is an internationally leading supplier of systems and components in the field of transportation technology and the capital goods industry. With Pintsch, Bode, Schaltbau and SBRS as their core brands, Schaltbau Group companies develop a wide range of high-quality technologies and customer-specific technological solutions for rail infrastructure, rolling stock, passenger cars and commercial vehicles. As one of the few specialists for smart DC-based energy concepts, the Schaltbau Group is also a driver of innovation in the fast-growing markets of tomorrow such as New Energy, New Industry and e-Mobility.
To find out more about the Schaltbau Group, go to: https://schaltbaugroup.com
Schaltbau Holding AG
P +49 89 93005-209
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