Major leadership changes at Deutz AG
13 February 2022
The Supervisory Board of Cologne, Germany-based engine manufacturer Deutz AG has announced several changes to its senior leadership, including the immediate dismissal of Dr. Frank Hiller as chairman of the company’s Board of Management.
Hiller, who was a keynote speaker at last year’s Diesel Progress Summit, has been chairman since 2017 and early last year was appointed to a five-year term of office which had been scheduled to run until the end of 2026.
He was dismissed by the company Supervisory Board by unanimous decision. Dr. Sebastian Schulte, previously chief financial officer and labor director, will take over as chairman of the Board of Management immediately and will retain his previous areas of responsibility on an interim basis.
In addition, the Deutz Supervisory Board has decided to appoint a woman to the Board of Management and the search process has already been started, the company said. When that position is filled, the board will again be comprised of four people.
The Supervisory Board also elected Dr. Dietmar Voggenreiter as its new chairman. The previous chairman, Dr. Bernd Bohr, has resigned as chairman, but will remain an ordinary member of the Supervisory Board.
“Sebastian Schulte is a team player and a leader with strong analytical skills,” said Voggenreiter. “As the new chairman of the Board of Management, he brings precisely the expertise needed for the next phase of the company’s development: the profitable transformation of Deutz into a leading provider of carbon-neutral drive solutions for the off-highway sector.”
Schulte has been a member of the Board of Management at Deutz since January 2021, and as CFO and labor director was responsible for Finance, Human Resources, Purchasing and Information Services. A former professional athlete, Schulte began his career at ThyssenKrupp AG and prior to joining Deutz was managing director and chief financial officer of the Marine Division of the ThyssenKrupp Group.
Voggenreiter, the new chairman of the Supervisory Board, has been a member of that board since April of 2019. He has many years of international experience in corporate management and was responsible for Audi’s China business for nine years before becoming the Board of Management member for Marketing and Sales at Audi AG, Ingolstadt.
“In addition to his extensive knowledge of our industry, Dietmar Voggenreiter also stands for continuity,” said Schulte. “Together, we will maintain the strategic and constructive working relationship between the Supervisory Board and the Board of Management.”