Putzmeister’s CEO Gerald Karch will be leaving the company and following this, Martin Knötgen will assume the role of CEO and also take up the chairmanship of the executive board on a provisional basis, according to Putzmeister. Mr Knötgen will also maintain his current role as CEO of Sany Europe.
Putzmeister’s supervisory board said that the termination of contract with Dr Karch was based on mutual consent. “The supervisory board regrets this decision and wishes Dr Karch all the best in his future career and private life,” stated the chairman of the supervisory board. “Thanks to the successful work of Dr Karch, our company is superbly positioned worldwide. A solid foundation has been laid for further success in the future.”
Putzmeister was acquired by Sany Heavy Industry in 2012 and Dr Karch was named CEO of Putzmeister in 2013, at a time when the company experienced a difficult economic period. Prior to that, Dr Karch spent almost nine years as managing director of Putzmeister.
In addition, Dr Danninger, who has been acting as CFO of Putzmeister since June 2017, will continue to manage the financial section, which incorporates the IT department.
There are also three new members on Putzmeister’s executive board. Matthias Ruppel will be responsible for the global operations division and Markus Hofheinz will assume responsibility for global sales/dealer steering, each in addition to their previous duties. Xiangyang Jiang will be in charge of compliance, strategy and business development.