Germany

Herrenknecht expands Board of Management

The Supervisory Board and Board of Management of Herrenknecht AG have initiated a generational change in the top management: With effect from August 1, 2014 the senior management executives Günter Richter (54), Ulrich Schaffhauser (50) and Michael Sprang (36) have risen to the ranks of top management as Deputy Members of the Board of Management. They thus join the long-standing Board of Management team around Chairman and company founder Dr.-Ing. E.h. Martin Herrenknecht (72), Vice Chairman Gebhard Lehmann (62) and Chief Financial Officer Kurt Stiefel (58). Together they took the Herrenknecht Group to market leadership in mechanized tunnelling worldwide (annual sales 2013: 1051 million euros).

The appointment of the new members follows a plan for orderly succession in the  Board of Management. Günter Richter and Ulrich Schaffhauser have been in positions of responsibility at Herrenknecht for more than 20 years, and Michael Sprang since 2010. They have contributed decisively to the overall success of the family-run company in the past years. The existing Board of Management portfolios remains unchanged.

The new Deputy Board Members will be progressively entrusted with operational and strategic duties. On August 1, 2014 Günter Richter takes responsibility for the overall management of the Business Unit Traffic Tunnelling (tunnel boring machines from Ø 4.20 meters). With a business volume of over 600 million euros, this division covers the majority of the Group‘s sales. Michael Sprang will take over the commercial management of Traffic Tunnelling on January 1, 2015. The industrial engineer is Chief Financial Officer (CFO) of the largest Chinese subsidiary of Herrenknecht. From August 1, 2014 Ulrich Schaffhauser is responsible for the overall management of the Business Unit Utility Tunnelling (tunnel boring machines up to Ø 4.20 meters). Here the company has a turnover of around 200 million euros.

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