Press Release

Ralf W. Dieter confirmed as CEO until June 30, 2023 ahead of schedule

Bietigheim-Bissingen, December 12, 2018 – The Dürr AG Supervisory Board has, ahead of schedule, extended the appointment of Ralf W. Dieter as CEO of Dürr AG until June 2023. The relevant resolution was passed at today’s Board meeting. With this extension, the Supervisory Board has set the course for continuous further development of the Dürr Group in view of the digital transformation.

Ralf W. Dieter (57) will receive a new contract of employment for the period of January 1, 2019, through June 30, 2023. His existing contract for the period of January 1, 2016, through December 31, 2020, will thus be terminated. Terminating the existing contract is necessary as the reappointment until June 2023 occurs ahead of schedule. Members of the board of management are usually reappointed one year before their contract of employment ends. The Supervisory Board has decided to confirm the reappointment of Ralf W. Dieter two years before his contract of employment ends to ensure the long-term continuity of Dürr’s leadership.

Ralf W. Dieter joined the Dürr Group in 2003 as the CEO of Carl Schenck AG. He has been a member of the Dürr AG Board of Management since the beginning of 2005 and became its Chairman on January 1, 2006. Important milestones of his term of office have been the Group’s reorientation in 2006 and 2007, strengthening its financial position, expanding into the emerging markets, increasing the portfolio through the acquisition of the HOMAG Group (2014) and the ongoing digitization strategy, digital@DÜRR.

Karl-Heinz Streibich, Chairman of Dürr AG’s Supervisory Board: “Ralf Dieter fully identifies with Dürr and has a clear and strong belief of how the company must be positioned for the digital future. He is highly respected among customers, business partners and employees alike, and offers long-term experience and continuity. He is also prepared to take on new challenges without hesitation, and to develop Dürr further.”

Ralf W. Dieter: “Dürr is an extraordinary company with great potential. Trends such as digitization, electromobility and product individualization through smart production technology offer great opportunities to us as a mechanical and plant engineering firm. Together with the Supervisory Board and the managers and employees, I will continue to put all my energy into making sure that Dürr takes maximum advantage of these opportunities and creates value for its shareholders.”

Aside from Ralf W. Dieter, the other members of the Dürr AG Board of Management are Carlo Crosetto and Dr. Jochen Weyrauch. As of January 1, 2019, Pekka Paasivaara will become the fourth member to join the Dürr Board of Management. He was appointed by the Supervisory Board back in September. Pekka Paasivaara will maintain his additional role as CEO of HOMAG Group AG.

The Dürr Group is one of the world's leading mechanical and plant engineering firms with extensive expertise in automation and digitization/Industry 4.0. Products, systems and services offered by the Group enable highly efficient manufacturing processes in different industries. Dürr supplies sectors like the automotive industry, mechanical engineering, chemical, pharmaceutical and woodworking industries. The Group generated sales of € 3.71 billion in 2017. In October 2018, Dürr acquired the industrial environmental technology business of US-based company Babcock & Wilcox, comprising the MEGTEC and Universal brands. Since then, the company has over 16,000 employees and 108 business locations in 32 countries. The Group operates in the market with five divisions:

  • Paint and Final Assembly Systems: Paintshops and final assembly systems for the automotive industry
  • Application Technology: Robot technology for the automated application of paint, sealants and adhesives
  • Clean Technology Systems: air pollution control systems and noise abatement systems
  • Measuring and Process Systems: Balancing as well as assembly, testing and filling technology
  • Woodworking Machinery and Systems: Machinery and equipment for the woodworking industry

This publication has been prepared independently by Dürr AG/Dürr group (“Dürr”). It may contain statements which address such key issues as strategy, future financial results, events, competitive positions and product developments. Such forward-looking statements are subject to a number of risks, uncertainties and other factors, including, but not limited to those described in Dürr's disclosures, in particular in the chapter “Risks” in Dürr's annual report. Should one or more of these risks, uncertainties and other factors materialize, or should underlying expectations not occur or assumptions prove incorrect, actual results, performances or achievements of Dürr may vary materially from those described in the relevant forward-looking statements. These statements may be identified by words such as “expect,” “want,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “estimate,” “will,” “project” or words of similar meaning. Dürr neither intends, nor assumes any obligation, to update or revise its forward-looking statements regularly in light of developments which differ from those anticipated. Stated competitive positions are based on management estimates supported by information provided by specialized external agencies.

Our financial reports, presentations, press releases and ad-hoc releases may include alternative financial metrics. These metrics are not defined in the IFRS (International Financial Reporting Standards). Dürr's net assets, financial position and results of operations should not be assessed solely on the basis of these alternative financial metrics. Under no circumstances do they replace the performance indicators presented in the consolidated financial statements and calculated in accordance with the IFRS. The calculation of alternative financial metrics may vary from company to company despite the use of the same terminology. Further information regarding the alternative financial metrics used at Dürr can be found in our financial glossary.

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