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SAF-HOLLAND: Detlef Borghardt takes over as Chairman of the Management Board

SAF-HOLLAND: Detlef Borghardt takes over as Chairman of the Management Board

SAF-HOLLAND S.A. / Key word(s): Change of Personnel

28.04.2011 / 12:45

Luxemburg, April 28, 2011 - After successfully restructuring the Group, Rudi Ludwig (62), CEO of SAF-HOLLAND Group GmbH, is stepping down from his operating activities as Chairman of the Management Board at his own request as of June 30, 2011. Detlef Borghardt (48) will follow as his successor as CEO effective on July 1, 2011.

Detlef Borghardt has served as Deputy CEO of the Company since the beginning of the year and has been responsible for the global operations of the Trailer Systems Business Unit since July of 2007; he is also a member of the Management Board of SAF-HOLLAND. After completing his studies in vehicle design engineering in Hamburg, Detlef Borghardt began his career at Alusuisse-Lonza, where he held various positions in product development and sales with an increasing amount of responsibility until he ultimately served as a member of the management team. In the year 2000, he came to SAF where he initially led global sales, marketing and customer service and he joined the Management Board in 2007.

'By selecting Detlef Borghardt, we have filled the CEO position from within. He has played a significant role in the development of the Company over the past years and he will continue the successful path as a proven expert in the industry', said Bernhard Schneider, Chairman of the Board of Directors of SAF-HOLLAND S.A.

Rudi Ludwig has chaired the Management Board of the former SAF since June 2003 and of SAF-HOLLAND Group since July 2007. He has provided the Company a solid basis over the last eight years. 'We wish to thank Rudi Ludwig on behalf of the entire Board of Directors and all employees for his extraordinarily successful contribution as CEO of our Company. Today, SAF-HOLLAND is in a healthy position financially as well as operationally. With his strategic vision, Rudi Ludwig shaped SAF-HOLLAND into a leading supplier for the truck and trailer industry. The Company is well positioned in its international markets enabling us to continue our growth strategy with confidence and optimism', according to Bernhard Schneider, Chairman of the Board of Directors.

Effective July 1, 2011, additional changes in management will also take effect in connection with the changeover of Company's Chairman of the Management Board. Steffen Schewerda (40) will take over as Head of Trailer Systems Business Unit. He will continue in his current role as Head of Group Operations. Alexander Geis (36), responsible for the Aftermarket Business Unit and current deputy member of the Management Board, will be appointed as a full member of the Board. The responsibilities of Jack Gisinger (62) as Head of the Powered Vehicle Systems Business Unit and President of the American subsidiary SAF-HOLLAND Inc., as well as Wilfried Trepels (47) as the Group's Chief Financial Officer, remain unaffected.

At the Annual General Meeting of SAF-HOLLAND S.A., which was held today in Luxembourg, the mandates of two members of the Board of Directors were extended. Bernhard Schneider (66), Chairman of the Board, was confirmed as a member of the Board of Directors until the Annual General Meeting 2015. Furthermore, Richard Muzzy's (62) mandate as a member of the Board of Directors was extended by an additional two years until the Annual General Meeting 2013. The Board of Directors announced Sam Martin (65) as a new member of the Board at today's Annual General Meeting. Thus, the Board of Directors of SAF-HOLLAND S.A. is now composed of the following members. Bernhard Schneider, Ulrich Sauer, Richard Muzzy, Rudi Ludwig and Sam Martin.

 

Company Profile:
With sales of approximately EUR 631 million in 2010 and approximately 2,800 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 trailer axle systems and suspension systems, coupling devices, kingpins, landing legs and more. SAF-HOLLAND sells products to original equipment manufacturers (OEMs) in the replacement parts market and, in the aftermarket business, to the OEM's original equipment suppliers (OESs) on six continents as well as over a global sales and service network. With the help of this network, SAF-HOLLAND sells its products to end users and service centers. 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 June 2007 and has been in the SDAX since December 2010.

Contact:
SAF-HOLLAND Group GmbH
Barbara Zanzinger
Hauptstraße 26
63856 Bessenbach

Phone +49 6095 301-617
barbara.zanzinger@safholland.de

End of Corporate News


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121862  28.04.2011

Michael Schickling
Director Investor Relations / Corporate Communications
Tel. +49 (0)6095 301 617

SAF-HOLLAND SE
Hauptstraße 26
D-63856 Bessenbach
Deutschland