Schaltbau Holding AG: Subsidiary Bode reduces number of managing directors to adapt to current business developments

- Dr Jörg Willert is leaving the management board of Gebr. Bode GmbH & Co. KG with effect from 31 December 2020

- As from 1 January 2021, Bode will be managed by its three remaining directors Thomas Giebisch, Uwe Gerber and Dominic Daly

Munich, 17 September 2020 - Dr Jörg Willert will leave the management team of Gebr. Bode GmbH & Co. KG with effect from 31 December 2020.

"We have jointly decided to take this step in response to current business developments in the Automotive & Bus division at Bode," said Dr Albrecht Köhler, CEO of Schaltbau Holding AG. "We would especially like to thank Dr Willert for his outstanding personal commitment in driving forward the strategic and operational repositioning of this division."

Bode is a globally leading supplier of innovative door and boarding systems for trains, buses, commercial and electric vehicles and the number one in Europe. Its most important line of business is the rolling stock sector. In the wake of the COVID-19 pandemic, Bode recorded a drop in order intake in the first six months of the year, mainly in the Bus & Automotive lines of business. The spread of the pandemic has held down order intake from major bus and car manufacturers and resulted in temporary plant closures as well as a current negative market trend in the commercial vehicle and passenger bus sectors.

For this reason, the Executive Board is currently adjusting its medium-term strategic planning to take account of the new market conditions. With effect from 1 January 2021, Thomas Giebisch (Managing Director Rolling Stock) will also manage the Bus & Automotive division. Uwe Gerber continues as Managing Director Operations responsible for quality and processes, while Dominic Daly remains Managing Director Finance (CFO).

About the Schaltbau Group
Schaltbau Holding AG (ISIN: DE000A2NBTL2) is listed in the Prime Standard segment of the regulated market of Deutsche Börse AG in Frankfurt am Main. With annual Group revenue in the region of EUR 500 million and around 3,000 employees, Schaltbau is an internationally leading supplier of systems and components in the field of transportation technology and the capital goods industry. With Schaltbau, Bode, Pintsch and SBRS as their core brands, Schaltbau Group companies develop a wide range of high-quality technologies and customer-specific technological solutions for rolling stock, rail infrastructure, road vehicles and commercial vehicles. As one of the few specialists for smart DC energy concepts, the Schaltbau Group is also a technology partner and driver of innovation for the fast-growing markets of tomorrow such as New Mobility, New Energy and New Industry.
To find out more about the Schaltbau Group, go to: https://schaltbaugroup.com