From the Sector

The Board of Directors of Rieter Holding Ltd. unanimously has appointed Oliver Streuli to the Group Executive Committee of Rieter Group as Chief Financial Officer, effective August 1, 2023.

Oliver Streuli was from June 2019 until April 2023 CEO at PCS Holding AG in Frauenfeld (Switzerland), a private institutional investment company, where he was responsible for developing the investment strategy as well as the financial and strategic supervision of the industrial portfolio companies. He was also project manager for the IPO on the SIX Swiss Exchange at Stadler Rail AG, Bussnang (Switzerland). Previously, he held different positions at UBS.

He is currently a member of the Board of Directors of Swiss Steel Holding AG, Lucerne (Switzerland), and of Autoneum Holding AG, Winterthur (Switzerland).

Oliver Streuli was a member of the Board of Directors of several industrial and financial portfolio companies of PCS Holding AG in Switzerland, in Austria and in Türkiye, which are active in fields of electric propulsion systems, green mobility and rolling stock leasing.

Oliver Streuli was born in 1988 and is a Swiss citizen. He holds a Master’s degree in Accounting and Finance from University St. Gallen (HSG),

• Rieter CAMPUS strengthens innovation strategy and technology leadership position
• Customer and technology center and administration building ready for occupancy in 2024
• Commitment to the Winterthur site and to Switzerland as a business location

On September 8, 2021, the foundation stone was laid for the Rieter CAMPUS on the western part of the Rieter site at the Winterthur location, which includes a customer and technology center as well as an administration building. The Rieter CAMPUS will make an important contribution to the implementation of the innovation strategy and to the enhancement of the company’s technology leadership position. At the same time, the investment of around CHF 80 million is a commitment to the Winterthur site and to Switzerland as a business location. 

With a floor area of over 30 000 m2, the Rieter CAMPUS offers space for around   700 ultra-modern workplaces. For this purpose, Rieter and a specialist in office architecture have developed a contemporary space concept for the “Open Space Office” that is tailored to the needs of the company, divided into meeting rooms, focus rooms and some individual offices. The underground car park provides   88 parking spaces, and a further 12 outdoor parking spaces are being created   in front of the technology center.  “In the course of its 225-year company history, Rieter has helped shape the city of Winterthur. The foundation for the future as a leading technology company is now being created with the new CAMPUS. In this way, Rieter is giving a clear indication   of its commitment to the Winterthur site and to Switzerland as a business location”, commented Bernhard Jucker, Chairman of the Board of Directors of Rieter Holding AG.

Innovation is an important part of Rieter’s strategy and crucial for the company’s success. For this reason, Rieter invests more than CHF 50 million annually in research and development. Thanks to this commitment, Rieter is making a   decisive contribution to the further development of systems for sustainable yarn production and their digitization. The Rieter CAMPUS will provide an attractive working environment that promotes creativity and innovation.  The new CAMPUS is a showcase project in terms of economic feasibility, energy efficiency and sustainability. Rieter relies on renewable energy for construction. This includes heat generation via geothermal probes and a photovoltaic system on around 1 300 m2 of roof area. “In this way, the entrepreneurial focus on sustainable and energy-efficient solutions for yarn production is reflected in the overall concept of the CAMPUS,” emphasized Rieter CEO Norbert Klapper.  The move into the new building is planned for 2024.

Based on Article 27 of Regulation 3 on measures to combat the Corona Virus (COVID-19), the Board of Directors of Rieter Holding Ltd. decided that shareholders can exercise their voting rights exclusively by authorizing the independent proxy. Shareholders therefore could not attend the Annual General Meeting in person. The AGM was held on the premises of Rieter Holding Ltd. at the company’s headquarters in Winterthur.

At the Annual General Meeting of Rieter Holding Ltd. on April 15, 2021, the independent proxy represented a total of 2 084 shareholders who hold 63.6% of the share capital.

The shareholders approved the proposal of the Board of Directors not to distribute a dividend in view of the negative business result. In addition, they approved the proposed maximum total amounts of the remuneration of the members of the Board of Directors and of the Group Executive Committee for fiscal year 2022.

The Chairman of the Board, Bernhard Jucker, and the members of the Board of Directors This E. Schneider, Hans-Peter Schwald, Peter Spuhler, Roger Baillod, Carl Illi and Luc Tack were confirmed for an additional one-year term of office. Stefaan Haspeslagh was newly elected to the Board of Directors for a one-year term of office.

Furthermore, This E. Schneider, Hans-Peter Schwald and Bernhard Jucker, the members of the Remuneration Committee who were standing for election, were also each re-elected for a one-year term of office.

Shareholders also adopted all other motions proposed by the Board of Directors, namely the approval of the annual report, the financial statements and the consolidated financial statements for 2020, and formal approval of the actions of the members of the Board of Directors and those of the Group Executive Committee in the year under review.

Outlook Updated
As already communicated at the Results Press Conference on March 9, 2021, Rieter expects the market recovery to continue in 2021. The company expects an order intake exceeding CHF 500 million in the first half of 2021. For the first half of 2021, Rieter still anticipates that sales will be below break-even point. For the full year 2021, Rieter expects an operating profit.