Change at the company's top management: SAF-HOLLAND appoints Alexander Geis as the new CEO

Change at the company's top management: SAF-HOLLAND appoints Alexander Geis as the new CEO

Luxembourg, February 25, 2019 - SAF-HOLLAND S.A., supplier to the trailer, truck and bus industry, repositions itself with a personnel change. After eight years at the helm of the Group, the current CEO Detlef Borghardt (56) resigns from his mandate as Chairman of the Management Board. SAF-HOLLAND S.A. and Detlef Borghardt mutually agreed on termination of his activities for the Group effective as of 26 February 2019. Detlef Borghardt will hand over his CEO functions immediately to Alexander Geis (45). As a member of the Management Board he is currently responsible for the EMEA region and for global procurement.

"In recent years, Detlef Borghardt has led SAF-HOLLAND to its current size and international significance as an integrated supplier with great drive and expertise. During this time, he has set the course for the future of the Group and laid a solid foundation for its further development," said Martina Merz, Chairwoman of the Board of Directors. "Last year, SAF-HOLLAND even reached the position of the world's largest manufacturer of trailer axles for the first time. Detlef Borghardt and his team can be particularly proud of that. After almost twenty years in which Detlef Borghardt made a name for himself in various functions at SAF-HOLLAND, we thank him for his dedicated and highly committed work."

Under the stewardship of Detlef Borghardt, SAF-HOLLAND since 2011 has recorded amazing growth, making it possible to develop SAF-HOLLAND into a global premium brand with system competence. Sales increased from about 0.8 billion euros (2011) to most recently about 1.3 billion euros (2018). At the same time, the organization has been reinforced worldwide by the acquisition of [seven] companies. International expansion has been driven beyond the traditional core markets in Europe and North America, particularly in China and the Asian markets.

Detlef Borghardt stated: "After almost a decade in which we navigated SAF-HOLLAND through stormy times of strong international growth, I would like to take the opportunity to thank all employees of SAF-HOLLAND. You have done fantastic work in recent years and have made SAF-HOLLAND a successful global enterprise. We have jointly created a strong foundation for the next phase of long-term corporate development."

Alexander Geis, a graduate in business management, has been working for SAF-HOLLAND for over 20 years. Since July 2011, he has been a member of the Management Board and since January 2016, he has also been President of the EMEA region. In this function, he decisively reinforced the European business, making Europe the Group's most profitable region. Previously, from 2009 to 2016, as Head of the Aftermarket division he extended the Group's business with spare parts, making it an internationally successful field of business of SAF-HOLLAND. Thanks to his experience and achievements, in December 2018 he was appointed Chief Procurement Officer in addition to his previous duties.

"Alexander Geis has exactly the right skills we need in the next phase of our corporate development: He has demonstrated how well he can develop a team and create tailored structures and processes. Following the phase of increasing internationalization and growing complexity, this will benefit our company. Not only do his success stories as a businessman stand him in good stead; another key factor is his close association and solidarity with SAF-HOLLAND and its employees," said Martina Merz.

Following the announcement, Alexander Geis said: "I would like to thank the Board of Directors for their trust and confidence placed in me. SAF-HOLLAND is a wonderful company that excels through vigorous performance and the immense enthusiasm of its workforce. I look forward to unlocking the full potential of our organization with our fantastic team and to continue our successful path."

In close cooperation with the recently enlarged Management Board, Alexander Geis will focus first on stabilizing the North American business and developing a long-term Strategy 2025 to further support of the group's successful growth track. The medium-term basis for this is the established Strategy 2020.