- Automotive business becomes a powerful, independent company
- REHAU Industries forms new umbrella for other REHAU divisions
- Jobst Wagner and Dr Veit Wagner exchange roles at the top of the REHAU Group
16.06.2021
- Automotive business becomes a powerful, independent company
- REHAU Industries forms new umbrella for other REHAU divisions
- Jobst Wagner and Dr Veit Wagner exchange roles at the top of the REHAU Group
The REHAU Group is setting up REHAU Automotive and REHAU Industries as separate companies within the Group. Alongside existing companies RAUMEDIC and Meraxis plus the newly established New Ventures innovation unit, these new companies will form a solid foundation for the REHAU Group as we move forward. At the same time, Jobst Wagner will hand over the office of President to his brother Dr Veit Wagner on 1 July 2021 after more than 20 years at the helm of the REHAU Supervisory Board. He will then take on his brother’s current role as Vice President.
“Over the past 20+ years, my brother and I have steadily developed the REHAU Group and have consistently set the course for a strong, globally active group of companies," said Jobst Wagner. "At the core has always been our unmistakable culture which has, from the very beginning, distinguished us as an independent family business that prioritises innovation, entrepreneurial freedom and customer proximity. Above all, however, our focus is on our employees with whom we are continuing this successful path.
"As a modern family business, we are committed to change in order to lead the Group into a sustainably successful future," says Dr. Veit Wagner. In particular, we want to make our divisions even more targeted and powerful.” The Automotive Division and the other divisions differ significantly from each other in terms of business model, customer structure and internal organization. The existing Automotive Division will become an independent company under the name REHAU Automotive. The new business unit will be given more autonomy to become more agile and competitive with more room to manoeuvre and make decisions, but still under the strong umbrella of the REHAU Group.
The current Automotive Executive Board (AEB), with Michael Colberg as Chief Operations Officer (COO), Stefan Ficht as Chief Financial Officer (CFO) and headed by CEO Dr Markus Distelhoff, will continue to perform its operational management function in the new company. In future, the AEB will report directly to its own Automotive Supervisory Board whose members will be William Christensen, CEO of REHAU's current Group Executive Board, and Dr Martin Zwyssig, CFO of the REHAU Group. Jürgen Otto, the long-standing CEO of Brose, will complete the board as an external representative. Dr Veit Wagner commented, "We are pleased that with Jürgen Otto we have been able to win over a proven expert and accomplished manager from the automotive industry to support the further expansion of our automotive business."
The new company REHAU Industries will form the common umbrella for the other REHAU divisions: Building Solutions, Window Solutions, Furniture Solutions and Industrial Solutions. It will also become home to the cross-division services units. Both new companies will be optimally positioned for customer-focused competition and profitable growth. REHAU Industries will continue to be led by CEO William Christensen. The
transition to the new structure with the two companies, REHAU Automotive and REHAU Industries, is expected to be completed in the first half of 2022. For employees at REHAU, all employment contracts, contract content and length of service will remain unchanged.
With these structural changes, the company is taking the next important step towards a powerful, market-oriented organisation with strong, independent pillars. "The REHAU Group remains the unifying, solid umbrella for all business units: family-controlled, independent and diversified on the basis of our shared values of trust, innovation and reliability," emphasises Dr Veit Wagner.
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