Eberspaecher expands management
Esslingen (Germany), 4 July 2022 – The Eberspächer Group is expanding its Executive Board. The aim is to consistently implement the transformation through additional resources and expertise. Dominic Waldeier will take over as Chief Financial Officer (CFO). Ulrike Wörz is responsible for the development and implementation of the corporate strategy as Chief Strategy Officer (CSO). Marcus Knödler and Volker Cwielong will be responsible for the management of the Purem by Eberspächer Division in a dual role as Co-CEOs. The management of the automotive supplier is completed by Uwe Johnen, as Chief Transformation Officer (CTO).
"We are convinced that the division of responsibilities and inclusion of the new members in our management team will enable us to meet the challenges of the coming years and fulfill the trust of our stakeholders – shareholders and banks", explains Martin Peters, Managing Partner and Chairman of the Executive Board of the Eberspächer Group. The liquidity required for the future has been secured by a newly concluded syndicated loan agreement with a term of three years. Based on its good market position and innovative product portfolio, Eberspächer will become even more resistant to external influences under the new management and at the same time meet the high transformation speed. "In order to shape the future of our entire group of companies in a targeted manner, we are deliberately relying both on experienced managers from our ranks and on impulses from outside", Peters explains the decision.
In the future, three members of the Executive Board will be responsible for finance, strategy and transformation across the Group: Dominic Waldeier has been appointed CFO. The 48-year-old has been with the Eberspächer Group since 2020 and was already responsible for the company's finance department as Executive Vice President Finance. The aim of his new role is to anchor the financing functions more firmly in the operating business and to ensure centralized management on the basis of an integrated and group-wide organization. Previously, the lawyer and finance expert worked for Bayer AG for more than 16 years in various positions, most recently as CFO for the Middle East region. The new function of Chief Strategy Officer (CSO) will be assumed by Ulrike Wörz. The 51-year-old industrial engineer has been with the company since 2001. She brings experience in strategy and corporate development as well as from successful strategy implementation within the scope of major projects and previously headed this area as Vice President Corporate Strategy & Development. The position of CTO (Chief Transformation Officer) is held by Uwe Johnen. The 58-year-old will in future be responsible for implementing projects that are critical to success. To this end, he brings more than 25 years of experience in consulting, most recently with the Boston Consulting Group, as well as from management roles in industry.
Dual leadership for exhaust technology
A dual leadership team is taking over the management of the Purem by Eberspächer Division. Marcus Knödler and Volker Cwielong will lead the automotive supplier's Purem by Eberspächer exhaust technology business as Co-CEOs. Both have been with the company for over five years. Cwielong was previously responsible for the European business with over 4,500 employees, while Knödler was in charge of Purem by Eberspächer's financials. Knödler, 51, has management experience at Talis Holding as CFO and BorgWarner Europe, among others, and was a deputy member of the Executive Board as CFO of BERU AG and holds an MBA. Volker Cwielong previously was a member of the Executive Board at Hoerbiger Antriebstechnik and held management positions at Saar Gummi and Brose Fahrzeugteile. The 45-year-old industrial engineer also holds an MBA.
Dr. Thomas Waldhier, CEO Purem by Eberspächer, leaves the Eberspächer Group at his own request. "I would like to expressly thank Dr. Waldhier for a decade of successful cooperation", emphasizes Managing Partner Martin Peters on Waldhier's departure. The 59-year-old had been COO of the Exhaust Technology Division (Purem by Eberspächer since 2021) since 2012. He successfully shaped the Division's international growth and strengthened its market position with a balanced customer portfolio in the passenger car and commercial vehicle sectors. Under his leadership, the Division has now grown to around 40 locations and over 7,000 employees worldwide.
Dr. Jörg Schernikau will remain as Chief Operating Officer (COO) in his previous areas of responsibility for the two Divisions Climate Control Systems and Automotive Controls. He also manages the hydrogen fuel cell activities for the Group.
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With approximately 10,000 employees at 80 locations worldwide, the Eberspaecher Group is one of the automotive industry’s leading system developers and suppliers. The family business, headquartered in Esslingen am Neckar, stands for innovative solutions in exhaust technology, automotive electronics and thermal management for a broad range of vehicle types. In combustion or hybrid engines and in e-mobility, the components and systems from Eberspaecher ensure greater comfort, higher safety and a clean environment. Eberspaecher is paving the way for future technologies such as mobile and stationary fuel cell applications, synthetic fuels as well as the use of hydrogen as an energy carrier. In 2020, the Group generated revenue of more than 4.9 billion euros.