Jack Gisinger succeeds Sam Martin as President of the American subsidiary - Detlef Borghardt appointed Deputy CEO of SAF-HOLLAND Group
Jack Gisinger succeeds Sam Martin as President of the American
subsidiary - Detlef Borghardt appointed Deputy CEO of SAF-HOLLAND Group
Luxembourg, November 16th, 2010 - Sam Martin (65), COO of SAF-HOLLAND Group
and President of the American subsidiary SAF-HOLLAND Inc., will resign from
his operating activities at the end of 2010 at his own request. He will
remain available to the Company to help insure a smooth transition in
leadership. He is expected to be nominated to join the Board of Directors
at the Company's Annual General Meeting on 28 April 2011. His
responsibilities in the Management Board will be re-distributed and the
board will also be reduced in size. Jack Gisinger (62) will succeed Mr.
Martin as President of the American subsidiary SAF-HOLLAND and will take up
his new position as of January 2, 2011. At the same time, Detlef Borghardt
(48) will assume the position of Deputy CEO of the entire Group and will
take over the responsibility for the strategic planning. The COO function
will therefore be dropped in the future.
'Sam Martin's decision to end his active career marks the departure of a
strong leader who had a formative influence on the Company. He made a vital
contribution to SAF-HOLLAND, a company recognized today as a technology
leader and a strong brand in many of our international markets. The Board
would like to thank Sam, also on behalf of all his colleagues and staff,
for the outstanding work he has done. Jack Gisinger and Detlef Borghardt
are recognized market experts who will continue to pursue our corporate
strategy and we are very pleased that they have taken on these new
responsibilities', said Bernhard Schneider, Chairman of the Board of
Directors at SAF-HOLLAND S.A.
Jack Gisinger and Detlef Borghardt were appointed to the Management Board
in June 2007 in the course of the initial public offering of SAF-HOLLAND.
Each is responsible for one of the Company's three business units. Mr.
Gisinger is Head of the Powered Vehicle Systems Business Unit and Mr.
Borghardt of the Trailer Systems Business Unit. In addition to their new
functions, they will continue to be responsible for these business units.
Mr.Gisinger holds degrees in aeronautical engineering and mechanical
engineering. Since joining the Company in 1980, he has held various
management positions with increasing responsibility at SAF-HOLLAND or the
former Holland Group. These positions included several years as Managing
Director of the European companies of the former Holland Group Inc.
Mr. Borghardt holds an engineering degree in vehicle design. He joined SAF
in 2000 as Head of Sales, Marketing and Services. Before joining SAF, he
held several management positions at Alusuisse-Lonza.
Sam Martin was also appointed to the Management Board in 2007 in the course
of the initial public offering of SAF-HOLLAND Group. After gaining initial
professional experience as a metallurgical engineer, Mr. Martin, who holds
a Ph.D. in engineering, joined the Company in 1974 and soon took up
management positions. He played a decisive role in shaping the success of
the former Holland Group. and subsequently SAF-HOLLAND Group. Important
milestones of his work include the successful reorganization of the former
Holland Group in 2002 and 2003, the merger of the companies SAF and Holland
at the end of 2006, the initial public offering of the Company in mid 2007
and the restructuring in North America of the SAF-HOLLAND Group as a result
of the recent financial and economic crisis.
A further change to the Management Board of SAF-HOLLAND involves the
resignation of Dr. Martin Kleinschmitt (50) as Chief Restructuring Officer
(CRO). Consistent with the completion of the Company's restructuring
program that was introduced two years ago, he has concluded his function
of CRO on the Management Board as planned. Dr. Martin Kleinschmitt was
appointed as an additional member of the Management Board on August 1, 2009
and played a crucial role in securing the Group's financing at the end of
last year. He is also a member of the Executive Board of Noerr Consulting
AG, Berlin, and will continue to act as a consultant to SAF-HOLLAND on a
The rest of the SAF-HOLLAND Group GmbH's Management Board remains the same,
with Rudi Ludwig as CEO, Wilfried Trepels as CFO and Steffen Schewerda as
Head of Group Operations.
With approximately EUR 420 million in sales and over 2,000 employees,
SAF-HOLLAND S.A. is one of the world's leading manufacturers and suppliers
of premium product systems and components primarily for trailers as well as
trucks, buses and recreational vehicles. The product range encompasses axle
and suspension systems, fifth wheels, coupling devices, kingpins, and
landing legs. SAF-HOLLAND customers include the majority of large truck and
trailer producers all over the world. The products are sold to Original
Equipment Manufacturers (OEMs) and Original Equipment Suppliers (OESs) by
means of a global service and distribution network and via aftermarket
channels directly to the end users and service garages. SAF-HOLLAND has
therefore established itself as one of the few manufacturers in its sector
that is internationally positioned with an extensive product range and a
broad service network. SAF-HOLLAND S.A. has been listed in the Prime
Standard of the Frankfurt Stock Exchange since July 2007.
SAF-HOLLAND Group GmbH
Phone +49 6095 301-617
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