Leoni adjusts Board of Directors structure to its leaner organisation
- More flexibility, clear responsibilities and in line with slimmer Group holding company
- Divisional management strengthened to confront present challenges
- From 1 June 2020, the Group’s Board of Directors will comprise the functions of CEO, CFO and CRO
- Management of the standalone divisions will in future report to the Group’s Board of Directors
Nuremberg, 29 May 2020 – As part of the Company’s comprehensive transformation, Leoni AG’s Supervisory Board changed the structure of the Board of Directors effective 1 June. It is intended to give those responsible more flexibility, speed up decision-making processes and promote an entrepreneurial attitude within the Group.
Under its VALUE 21 performance and strategy programme, the Company began last year to establish its two divisions on a more standalone basis as well as to make its holding company leaner and to gear it to the capital market as well as compliance-related areas. The Group’s senior management body will consequently also be realigned effective 1 June 2020.
The Board of Directors’ new composition:
- As Chief Executive Officer (CEO) of Leoni AG, Aldo Kamper will be in charge of the Group’s operational management and strategic direction. The Corporate Communications & Investor Relations, Corporate Human Resources Management, Corporate Legal and Corporate Strategy departments will be assigned to his remit. At the same time, Kamper will continue to head the Wiring Systems Division (WSD) as divisional CEO.
- As Chief Financial Officer (CFO), Ingrid Jägering is and will be responsible for the Group’s financial management. In addition, she will assume the position of Labour Director. The Corporate Accounting, Corporate Controlling, Corporate Ethics, Risk & Compliance, Corporate Finance & Treasury, Corporate Information Technology, Corporate Internal Audit and Corporate Taxes departments will be assigned to her remit.
- As a long-standing expert in restructuring, Hans-Joachim Ziems will continue in his function as Chief Restructuring Officer (CRO) to be in charge of implementing and coordinating the ongoing restructuring measures.
Martin Stüttem will remain in charge of the WSD’s operational matters as its COO and will be leaving the Group’s Board of Directors effective 1 June 2020. By mutual agreement, his contract due to expire on 31 December 2020 will not be extended. Bruno Fankhauser will also be leaving the Group’s Board of Directors on 1 June 2020 and will manage the Wire & Cable Solutions (WCS) division as its CEO. This will strengthen the operational management of both divisions in terms of personnel during this especially challenging period. Management of both divisions, which are meanwhile set up on a standalone basis, will in future report to the Group’s Board of Directors.
“The new structure of Leoni AG’s Board of Directors reflects the scope of the Group holding company's remits and responsibilities and will simultaneously boost the management capacity of both divisions. To master the tasks before us, we have adjusted the Board of Directors to ensure, on the one hand, that our ongoing restructuring can be resolutely applied and, on the other, that Leoni is entrepreneurially able to realise strategic growth opportunities,” Dr Klaus Probst, Chairman of Leoni AG’s Supervisory Board, said.