- Bernhard Schreier departing after 13 years in charge of press manufacturer
- Linzbach taking over from September 1 and working alongside Schreier to end of 2012
Bernhard Schreier is to leave German machinery manufacturer Heidelberg at the end of the year, replaced by Dr Gerold Linzbach.
Linzbach will takeover as chief executive officer (CEO) on September 1, although Schreier will work alongside him to ensure a smooth transition before he departs at the end of the year.
Schreier (pictured, top) is not extending his management contract when it expires mid-year 2013. He has been in charge of Heidelberg for almost 13 years.
Over recent months, key steps have been taken to set the company's new strategic course and a start has been made on putting this into practice to return Heidelberg to sustained profitable growth.
Quadrennial print industry tradeshow Drupa has led to the highest quarterly incoming orders in four years for the first quarter of financial year 2012-13.
Heidelberg’s supervisory board and Schreier himself feel now is the right time to make the change in order to create new impetus at the very top of the company.
Robert J. Koehler, chairman of the supervisory board of Heidelberg, said: ‘I would like to thank Bernhard Schreier for his achievements as Heidelberg CEO.
‘In a career spanning a total of 37 years, 13 of them as CEO, he has truly made his mark on the company and has succeeded in guiding it through two major global economic crises and structural upheaval in the printing industry.
‘Particularly in very difficult recent times, he has helped transform Heidelberg from a traditional press manufacturer into a solution and service provider in the print media industry.’
Linzbach (pictured, left) started his career as the head of a research group at the Dechema Institute in Frankfurt, before joining McKinsey in 1988 to cover a variety of projects, primarily in the process industry.
In 1991, he became a member of Hoechst AG's corporate planning team and subsequently took charge of this department. During this period, he was part of the "Aufbruch 94" team that laid the foundations for Hoechst AG's new corporate structure.
Four years later, he assumed the position of global CEO of a business unit responsible for the company's fibers operation, Trevira GmbH. In 1999, Linzbach played a leading role in founding Aventis and went on to become global CEO and president of the Celanese Acetate Group based in the US until 2003.
From 2003 to 2005, he was responsible for the textile fibers division Invista, also in the US.
In 2005, Linzbach was appointed chairman and CEO of Symrise AG in Holzminden, Germany. He successfully led it onto the stock market at the end of 2006 and onto the MDAX in March 2007. Linzbach left the company for personal reasons at the end of June 2009.
He was subsequently appointed CEO and member of the management board of D+S Europe and its successor companies in Hamburg.
Koehler added: ‘In Dr Gerold Linzbach, we are delighted to have found a successor with international experience to press ahead with the company's strategic re-orientation and ensure its return to profitability.
‘Linzbach has many years of management and capital market expertise, which will help pave the way for a successful future at Heidelberg.’
Read more on Heidelberg here
Read more industry appointments here
Read more on Drupa 2012 here
Read more from Europe here