Herrenknecht Expands Board of Management

The Supervisory Board and Board of Management of Herrenknecht AG have initiated a generational change in the top management of the company. Effective from Aug. 1, the senior management executives Günter Richter (54), Ulrich Schaffhauser (50) and Michael Sprang (36) have risen to the ranks of top management as Deputy Members of the Board of Management. They thus join the long-standing Board of Management team around Chairman and company founder Dr.-Ing. E.h. Martin Herrenknecht (72), Vice Chairman Gebhard Lehmann (62) and Chief Financial Officer Kurt Stiefel (58). The existing Board of Management members have held their positions since the transformation of the limited liability company Herrenknecht GmbH into a stock corporation on July 31, 1998. Together they took the Herrenknecht Group to market leadership in mechanized tunneling worldwide (annual sales 2013: 1.05 billion Euros/$1.4 billion US).

The appointment of the three new members follows a plan for orderly succession in the Group’s Board of Management. Richter and Schaffhauser have been in positions of responsibility at Herrenknecht for more than 20 years, and Michael Sprang since 2010. They have sound and broad management experience. As “home-grown talent”, in the past years they have contributed decisively to the overall success of the family-run company. The existing Board of Management portfolios remain unchanged.

Richter takes responsibility for the overall management of the Business Unit Traffic Tunneling (tunnel boring machines from Ø 4.20 m). With a business volume of over 600 million Euros, this division covers the majority of the Group’s sales. Sprang will take over the commercial management of Traffic Tunneling on Jan. 1, 2015. The industrial engineer is Chief Financial Officer (CFO) of the largest Chinese subsidiary of Herrenknecht. Schaffhauser is now responsible for the overall management of the Business Unit Utility Tunneling (tunnel boring machines up to Ø 4.20 m). Here Herrenknecht has a turnover of around 200 million Euros.

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