Autoneum has appointed Matthias Holzammer as new CEO.
Holzammer succeeds Martin Hirzel, who will be leaving in agreement with the board.
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As existing problems in North America are proving more challenging than expected, the Group’s operating result in the second semester of 2019 will not improve, contrary to previous forecasts.
Due to severe operational and commercial issues in North America, turnaround and improvement of results will take more time than expected.
“In view of the current challenges in North America and the volatile global market environment, Matthias Holzammer is the ideal choice to lead the company as CEO with his industry experience, knowledge of Autoneum and track record in restructuring”, said Autoneum chairman, Hans-Peter Schwald.
Before joining Autoneum, Holzammer held senior operational roles at various automotive suppliers, including the position of managing director of Production from 2009 to 2011, as well as at automotive supplier Keiper in Kaiserslautern, Germany, prior to the integration of Keiper into Johnson Controls in 2011.
As the first CEO of Autoneum, Hirzel led the supplier into independence in 2011. He will be available to the company for a transitional period.
“Martin Hirzel has made Autoneum what it is today: a [n[ industry leader which counts practically all vehicle manufacturers to its customers,” said Schwald.
