MUNICH, Germany– Klaus Deller, the Chairman of the Executive Board of Knorr-Bremse AG, will leave the company on April 30 by mutual agreement.

The Supervisory Board has already initiated the search for his successor. During the interim, the responsibilities of Mr. Deller will be assumed jointly by the members of the Executive Board: Ralph Heuwing, Dr. Peter Laier, and Dr. Jürgen Wilder.

The Supervisory Board stands fully behind the successful business strategy of Knorr-Bremse AG. Current business trading is fully in line with expectations. Mr. Deller resigned due to different views about leadership and collaboration.

Professor Dr. Klaus Mangold, Chairman of the Supervisory Board of Knorr-Bremse AG, said: “On behalf of all members of the Supervisory Board, I would like to thank Klaus Deller for the very successful work he has done over the past 10 years, in his divisional responsibility as well as since 2015, as CEO.

I would like to highlight particularly the company’s successful
IPO. With its access to capital markets and its long-range company strategy, Knorr-Bremse is positioned in the best-possible way for the future.“

Knorr-Bremse AG is the global market leader for braking systems and a leading supplier of other safety-critical rail and commercial vehicle subsystems. KnorrBremse’s products make a decisive contribution to greater safety and energy efficiency on rail tracks and roads around the world. Approximately 28,500 employees at over 100 sites in more than 30 countries use their competence and motivation to satisfy customers worldwide with products and services. In 2018, Knorr-Bremse’s two divisions together generated revenues of EUR 6.6 billion.