In response to a continued downturn in market demand and to finetune its organisation toward “targeted, profitable growth”, German polymer business Rehau Group is restructuring its Furniture Solutions and Industrial Solutions divisions.
The changes, Rehau said in a 31 Oct statement, aim to promote corporate growth while paying particular attention to structures and costs to make the company more efficient and profitable in the future.
As part of the move, as of 1 Jan 2020, Jürgen Werner, current head of the Furniture Solutions division, will also assume responsibility for the Industrial Solutions division, currently lead by Eckhard Kraft.
The Rehau Group and its holding company, Rehau Verwaltungszentrale AG will also undergo management changes within their finance departments.
Kurt Plattner, current chief financial officer (CFO) of the Rehau Group and head of treasury, controlling and finance at the holding company has decided to leave his current dual role to pursue his career at another company.
Effective 1 Dec, Harald Vogelsang will assume the role of Rehau Group’s CFO and is expected to join the company board in January 2020.
The 57-year-old economist has previously served as the CFO of various companies including Siemens AG and other global technology companies.
Vogelsang has extensive experience in the fields of strategic planning, mergers and acquisitions, restructuring and process optimisation, Rehau announced 31 Oct.
Martin Zwyssig is also expected to join Rehau Verwaltungszentrale AG as CFO as of April 2020.
The 54-year-old currently holds the position of CFO at Autoneum Holding AG, a supplier of acoustic and thermal management solutions for the automotive industry with an annual turnover of approximately €2bn.