Source: RENK announcement
AUGSBURG, Germany – The RENK Group announced that, subject to her formal appointment by the Supervisory Board, Susanne Wiegand will assume the position of Chief Executive Officer of the RENK Group. Wiegand will succeed Florian Hofbauer, who acted as the spokesperson of the Executive Board and successfully lead RENK for almost 14.
While CEO, Hofbauer played a key role in shaping RENK by driving growth and innovation while successfully expanding its technological leadership position. Under his leadership, RENK further internationalized and digitalized through many strategic initiatives and M&A transactions.
Hofbauer also oversaw a successful transition of RENK to the new owner, a fund advised by Triton.
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Wiegand is an experienced manager who has led large and successful companies of Rheinmetall AG as well as the German Naval Yards shipyard group and ThyssenKrupp Marine Systems AG. With more than 20 years of management experience in corporate leadership, M&A and operations, she brings highly relevant industry experience.
On behalf of the Supervisory Board, Claus von Hermann said, “We are pleased to have found Ms. Susanne Wiegand. She is ideal to lead RENK into a continued profitable growth phase by meeting and exceeding our customer’s expectations through innovative products, solutions and services. Ms. Susanne Wiegand combines operational-technical skills with commercial thinking. She also has a strong go-to-market approach in combination with extensive M&A experience. We look forward to working together in continuing RENK’s success story.”
Headquartered in Augsburg, Germany, RENK AG is a leading global manufacturer of high-quality transmissions, automatic transmissions, plain bearings, suspension systems, couplings and testing systems. The company serves a wide range of end markets with a particular focus on armored vehicles, defense and civil marine, power generation, plastics, oil and gas and others. With more than 2,600 employees, RENK AG generated sales of €559 million in 2019.