Heidelberger Druckmaschinen Names New CEO

Published: July 24, 2012

HEIDELBERG, GERMANY | Bernhard Schreier, CEO of Heidelberger Druckmaschinen, will not be extending his management contract when it expires mid-year 2013, and he will leave the company at the end of 2012 after 13 years in charge. The Supervisory Board unanimously appointed Dr. Gerold Linzbach as Heidelberg CEO effective September 1, 2012. Dr. Linzbach served as chairman and CEO of Symrise AG in Holzminden, Germany, and he was subsequently appointed CEO and member of the management board of D+S Europe and its successor companies in Hamburg.

Heidelberger Druckmaschinen says key steps have been taken over recent months to set a new strategic course, a start has been made on putting this into practice to return the company to sustained profitable growth, and the recent drupa (http://www.drupa.com/) has led to the highest quarterly incoming orders in four years for the first quarter of financial year 2012/2013. Schreier and the company’s supervisory board believe now is the right time to make the change in order to create new impetus at the very top of the company.

Robert J. Koehler, chairman of the supervisory board of Heidelberger Druckmaschinen, says, "I would like to thank Bernhard Schreier for his achievements as Heidelberg CEO. He has truly made his mark on the company and has succeeded in guiding it through two major global economic crises and structural upheaval in the printing industry.…He helped transform Heidelberg from a traditional press manufacturer into a solution and service provider in the print media industry.” Koehler adds, “In Dr. Gerold Linzbach, we are delighted to have found a successor with international experience to press ahead with the company's strategic reorientation and ensure its return to profitability. Dr. Linzbach has many years of management and capital market expertise, which will help pave the way for a successful future at Heidelberg."

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