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Autoneum
08.10.2019

Autoneum: Matthias Holzammer appointed new CEO

The Board of Directors of Autoneum Holding Ltd has appointed Matthias Holzammer, the former, long-term Head of Business Group Europe, as CEO with immediate effect. He is taking over from Martin Hirzel, who will be leaving the Company in agreement with the Board of Directors. Since the existing problems in North America are proving more challenging than expected, the Group's operating result in the second semester of 2019 will not improve, contrary to previous forecasts.

The Board of Directors of Autoneum Holding Ltd has appointed Matthias Holzammer, the former, long-term Head of Business Group Europe, as CEO with immediate effect. He is taking over from Martin Hirzel, who will be leaving the Company in agreement with the Board of Directors. Since the existing problems in North America are proving more challenging than expected, the Group's operating result in the second semester of 2019 will not improve, contrary to previous forecasts.

Matthias Holzammer has already demonstrated his operational expertise as the Company’s Head of Business Group Europe, which he successfully restructured from 2012 on and transformed into a highly profitable Business Group. Due to the severe operational and commercial issues in North America, the turnaround and improvement of results will take more time than expected. Matthias Holzammer will devote himself to this task with the highest priority, in order to return the Business Group and the Group back to profitability as quickly as possible. "In view of the current challenges in North America and the volatile global market environment, Matthias Holzammer is the ideal choice to lead the Company as CEO with his industry experience, knowledge of Autoneum and track record in restructuring”, said Hans-Peter Schwald, Chairman of the Board of Directors of Autoneum Holding Ltd.

More information:
Autoneum Management AG
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Autoneum Management AG