Vienna – The supervisory board of Semperit AG Holding has extended the mandate of CEO Martin Fuellenbach ahead of schedule until 31 December 2023.
The extension of Fuellenbach’s tenure, said Semperit in a 25-Sept statement, will ensure that the company will continue its major turnaround scheme launched in 2018 and that it will implement its recently adopted “SemperGrowth200” strategy.
The strategy, announced by Fuellenbach earlier in the summer, aimes to “define and create” the group’s strategic reorientation in the next five years.
“As the leader of this company, he started an extremely complex restructuring and transformation programme and drove it forward successfully, while increasing the profitability of the industry segments significantly,” said chairman Peter Edelmann.
Fuellenbach joined Semperit in June 2017 for a term to 31 Dec 2020.
Prior to joining Semperit, he served as CEO of Oerlikon Leybold Vakuum in Cologne since 2012.