Nuremberg – Klaus Rinnerberger took on his duties as Chief Executive Officer (CEO) of Leoni AG today.
“The automotive industry is my home and I am delighted to be taking on responsibility as CEO at Leoni, particularly now,” Rinnerberger said. “Financial recovery is on its finishing straight, which is an act of liberation for the Company. And the transformation in the sector towards alternative drive systems, connectivity and autonomous driving is more opportunity than risk for us.” He added that the financial crisis had cast quite a wide shadow over Leoni recently. “It is now a matter of giving greater encouragement to entrepreneurial thinking in all areas again, of making day-to-day operations the focal point and of being an attractive employer. I stand for that.”
Rinnerberger has many years of management experience in the automotive supply sector, combined with extensive restructuring expertise. For instance, the 59-year old shaped – in executive functions (CFO, CRO and CEO) throughout – the Magna Group’s growth over many years and, one after the other, successfully reorganised the automotive suppliers Polytec AG and Peguform (now SMP). Rinnerberger has been a member of the Executive Board of Pierer Industrie AG since 2010.
Austrian-born Rinnerberger has relinquished his mandate on Leoni AG’s Supervisory Board, which he held since May 2021 and where he was chairperson from May 2022, upon becoming CEO. The new Chairwoman of the Supervisory Board will be Dr Ulla Reisch, who has been a member of the Supervisory Board since May 2022. Dr Reisch, who holds a doctorate in law, has in-depth restructuring experience and is an established, internationally active Supervisory Board member. She also has extensive experience from M&A transactions.
As reported, Leoni AG’s Supervisory Board had already decided on 3 April 2023 to appoint Rinnerberger as the future CEO. He thus succeeds Aldo Kamper who left the Company at the end of March. During the transition phase, CRO Hans-Joachim Ziems had taken on the role of Executive Board spokesperson. As planned, Ziems left the Company again at the end of June after successfully getting Leoni’s financial recovery off the ground.
SOURCE: Leoni AG