Dr. Jürgen Vutz, CEO and managing partner at Lengerich, Germany-based machinery manufacturer, Windmöller & Hölscher (W&H) will join the company’s supervisory board beginning January 1, 2021. The position of CEO will be taken over by Peter Steinbeck, also a managing partner and currently CSO, responsible for sales and service. As of January 2021, the Management Board will be made up of Peter Steinbeck (CEO and head of sales and service), Dr. Falco Paepenmüller (CTO) and Martin Schulteis (CFO).
Both Vutz and Steinbeck were appointed to the management board of the family-owned company in 1999. Two years later, Vutz took over as CEO. In the course of his more than 22 years on the Board, Vutz has had a decisive influence on the company.
During this time, W&H says it has grown significantly through its continuous focus on market demands and the development of the company. Sales grew from approx. €300 million in 1999 to over €900 million in 2019 and the number of employees has increased from roughly 2,100 to 3,100.
“The most important goal for me has always been to make W&H a stable and successful company for the long term. We have achieved a great deal and have set the right course for the coming years. We can proudly look into the future, full of optimism. Even with corona challenging us, W&H, the world market leader, is on its way to becoming a billion EUR company. Now I can calmly pass the baton to Peter Steinbeck,” says Vutz.
On behalf of all shareholders, Adelheid Windmöller, majority shareholder, says, "In the more than 20 years of his successful career, Dr. Vutz has been more than just CEO, he has become part of our family business. We owe him a great deal of gratitude and are delighted that he will continue to be available as an important resource to the Supervisory Board in the future".
The transition has been in the works for a long time. Dr. Falco Paepenmüller was promoted internally in 2019 and the recent addition of Martin Schulteis last month completed the new team.
"We are pursuing a long-term corporate strategy that will remain in place. This includes a strong focus on technology at our headquarters in Lengerich, an excellent components manufacturing plant in the Czech Republic and worldwide subsidiaries close to our regional customers. I look forward to the new responsibilities as CEO and to working together with my colleagues on the Board and the entire W&H team,” says Steinbeck.
Visit www.wuh-group.com for more information.