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Tuesday, 4 August 2009

Management changes at Rieter as sales plummet

Winterthur – The Board of Directors of Rieter Holding Ltd. has elected its Chairman Erwin Stoller as Executive Chairman. The heads of both operating divisions of Rieter, Textile Systems and Automotive Systems, and the head of the Corporate Center will report directly to Erwin Stoller. In order to safeguard the principles of good corporate governance, This E. Schneider, Vice- Chairman of the Board, has been elected Lead Director. Hartmut Reuter, CEO of Rieter, will leave the company. The new organization takes immediate effect.


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