Winterthur - The Rieter Group has announced that Erwin Stoller, a member of its executive committee and ceo of the Automotive Systems Division, will retire from operating management as of 31 December.
"The Board of Directors and the Group Executive Committee would like to thank Stoller for the extremely successful and valuable service he has rendered to the company over the years," said Rieter in a 4 Oct statement. "He has initiated and implemented decisive changes that have contributed to Rieter's long-term success," added the company.
Wolfgang Drees, who has to date has headed Business Group Europe, and acted as deputy to Stoller, will take over Stoller's role as of 1 Jan 2008.
The Board will propose Stoller for election to the board of Rieter Holding Ltd, at the next annual general meeting, which is scheduled for 8 May 2008. ss