Changes in the management team of the Moeller Group
Bonn, 01, March 2006
The management team of the Moeller Group is undergoing a change in structure. Joachim Göddertz (51) and Robert Gärtner (50) will be leaving the management of the company by mutual agreement and on amicable terms to devote themselves to new professional challenges. The management team will be joined by Dr. Martin U. Schefter (41), who as Head of the Command & Control Devices/Automation Business Unit was already a member of the extended management team, and by Marc Weber (41), previously at the management consultancy Bain & Company. Marc Weber will be assuming responsibility for the Motor Starters & Drives Business Unit with immediate effect and will additionally be responsible for Global Procurement, while Dr. Martin U. Schefter will hold responsibility for Logistics and Test Labs. Theo Kubat, CEO of Moeller Holding GmbH, continues to hold overall responsibility for the Moeller Group, and will be in charge of all industrial and building automation operations. In addition to his current tasks, he will also run the operations of the Circuit Breakers Business Unit. The position of CFO will be filled in the near future.
Joachim Göddertz had managed the industrial automation business since 2000, units, while Robert Gärtner had been responsible for Finances and Controlling since joining the Group in 2001.
CEO Theo Kubat expressed his thanks to the two former management team members: "Mr. Gärtner and Mr. Göddertz have both played an instrumental role in the successful rehabilitation of the company. Joachim Göddertz reorganised our industrial automation operations and helped them regain market success, while it is largely due to Robert Gärtner that Moeller again enjoys the acknowledgement among customers, banks and the market that is so important for its future success. Moeller is a solidly financed company again, and despite intensifying competition, has reached a promising position that it is now our task to strengthen in the years ahead. We would like to thank Mr. Gärtner and Mr. Göddertz for their contribution in this respect and the great loyalty they showed to the company in a difficult time. We wish them all the best for the future."
In September 2005, the private equity fund manager Doughty Hanson & Co. became the principal investor in the Moeller Group. The other shares are held by Advent International and the management.
About the Moeller Group
The Moeller Group, which is based in Bonn, Germany, is one of the leading globally active suppliers of systems and components concerned with power distribution and automation in industrial, infrastructure and residential building applications. The company focuses solely on core business areas, as evidenced by its five business units, namely Automation, Command & Control Devices, Motor Starters & Drives, Circuit Breakers and Building Automation. Moeller has a consistent focus on its core business.
The Moeller Group has a strong international alignment. Founded in 1899, the company has an efficient sales network in all relevant target markets, being represented in over 80 countries of the world by 27 national sales companies and over 350 sales offices and distribution partners. Thanks to its international production structure, it is able to utilize the advantages of the regional locations involved and capitalise on the opportunities offered by global growth markets.
The Moeller Group currently has around 8,000 employees, and in the 2004/2005 financial year generated consolidated sales of EUR 870 million, with core business accounting for EUR 760 million of this sum.
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