DÜSSELDORF, Germany, September 6, 2018 /PRNewswire/ --
- Dietmar Siemssen to assume as Chief Executive Officer on November 1, 2018
- Previously held position as Stabilus CEO
- Speaker of the Management Board and CFO Rainer Beaujean will not extend contract after April 30, 2019
Dietmar Siemssen (55) will join the Management Board of Gerresheimer AG as Chief Executive Officer on November 1, 2018. The Supervisory Board of Gerresheimer AG approved the decision in its meeting today. From 2011 to July 2018, Dietmar Siemssen was CEO of Stabilus and prior to that served for 19 years in various senior management positions at Continental in Germany and abroad, including in Asia.
"By bringing Dietmar Siemssen on board, we have gained a seasoned manager with international experience to lead Gerresheimer AG for some time to come. He was instrumental in growing Stabilus' business as well as successfully taking the company public and completing a major acquisition. I am confident that, under his leadership, Gerresheimer will continue on its current growth trajectory and effectively execute the strategic expansion plans underway," explains Dr. Axel Herberg, Chairman of the Supervisory Board of Gerresheimer AG.
"Gerresheimer AG is a well-respected, internationally positioned company. As a key partner to the pharmaceuticals, healthcare and cosmetics industries the future holds great promise and a wealth of opportunities. I am very optimistic as I look ahead to this exciting new mission," adds Dietmar Siemssen.
Dietmar Siemssen joined international automotive supplier Stabilus as CEO in 2011. Mr. Siemssen led the company out of the crisis and put it on track for growth. Under his management, the company transitioned from a component manufacturer into a systems supplier. Its operations expanded internationally, particularly in North America and Asia, and the portfolio was diversified beyond the automotive industry. Thanks to the growth strategy he shaped, along with a major acquisition, the company's revenue grew from around EUR 360m to just under EUR 1bn recently. He led the drive to convert Stabilus into a European public company that has been listed on the SDAX since 2014. Its share price has quadrupled since its first trading day.
After completing his university studies, Dietmar Siemssen worked in various management positions at Continental from 1994 to 2011, ultimately as head of a joint venture between Continental and Nisshimbo in Yokohama, Japan, and as head of the Chassis and Safety division in Asia. Dietmar Siemssen's studies included a time at Technical University of Darmstadt, where he gained a diploma in industrial engineering specializing in mechanical engineering. He is married with two children and enjoys doing endurance sports.
Speaker of the Management Board and CFO Rainer Beaujean has informed the Supervisory Board that he will not serve the additional three-year term of office offered to him by the Supervisory Board.
"I did not accept the Supervisory Board's offer to extend my contract for another three years," states Rainer Beaujean. "Gerresheimer's positioning is excellent, and the major strategic direction of the company has been set. After six years as Gerresheimer CFO, the last seven months of which I spent as Speaker of the Management Board, I have decided to take on new professional challenges. It goes without saying that I will fulfill all obligations under my contract until the end of April."
Supervisory Board Chairman Dr. Axel Herberg comments: "We regret Mr. Beaujean's decision, but we respect the choice he has made. Many thanks to Mr. Beaujean for his outstanding service over the past six years. In addition to his role as CFO, he accepted the position of Speaker of the Management Board in February of this year after the surprising departure of the then-CEO. The acquisition of Sensile Medical occurred during this time, a smart strategic move that will allow the company to move forward."
SOURCE Gerresheimer AG