Leoni’s Supervisory Board appoints Karl Gadesmann as the new CFO

Proven financial expert and CFO to take charge effective 1 October 2016 – Dieter Bellé to concentrate on his position as President & CEO

Nuremberg – The Supervisory Board of Leoni AG, the leading European provider of cables and cable systems to the automotive sector and other industries, has appointed Karl Gadesmann (53), who is a graduate in business administration and experienced in the automotive and supplier industry, as CFO effective 1 October 2016. Alongside the quintessential duties of a chief financial officer, Gadesmann will also take charge of the Information Management department.

Dr Werner Rupp, Chairman of Leoni AG’s Supervisory Board, said: “With his many years of experience in both the role of chief financial officer and the automotive as well as supplier industry, Karl Gadesmann is an ideal appointment for the CFO position at Leoni. With proven knowledge of the sector, Karl Gadesmann will doubtless make a key contribution to taking Leoni further forward and in mastering the current challenges faced in the context of the Company's expansion.”

Gadesmann has comprehensive expertise in the car and commercial vehicle industry. He has been a member of the executive board and CFO of the Dräxlmaier Group, an automotive component supplier specialising in wiring systems and interiors, since 2013. Previously he worked in senior positions at MAN Truck & Bus AG (CFO) and Volkswagen AG (Head of External Reporting and Group Accounting).

“I am convinced by Leoni’s global outlook and its portfolio of innovative products, technologies as well as services and look forward to my new duties,” Karl Gadesmann said. “As a leading provider of cables and cable systems, the Company has an outstanding basis and great potential for further profitable growth.”

Dieter Bellé, who has up to now performed the duties of Chief Financial Officer alongside his position as Chairman of the Management Board, will, given the Group’s expansion and further globalisation, concentrate on his CEO duties in the future.

Karl Gadesmann’s Management Board mandate initially expires on 31 December 2019. 

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