Heinz-Joachim Neubürger, chairman of KBA's supervisory board, resigns, effectively immediately, citing inability to devote time required for role
February 25, 2014
– Heinz-Joachim Neubürger (61), member and chairman of the Koenig & Bauer (KBA) supervisory board since June 2013 and October 2013 respectively, announced his resignation and leaves the printing press manufacturer’s supervisory board with immediate effect.
The resignation was accepted today by the supervisory board. Gottfried Weippert (53), vice-chairman, takes over the role as chairman temporarily until the appointment of a new board member by the register court takes place and a new chairman is elected.
Neubürger cites the high investment in terms of time and presence on-site which have arisen from the implementation of the Fit@All Group restructuring programme as reasons for his decision. “Demands regarding my availability have changed substantially since the election by the AGM in June 2013. I am unable to devote the amount of time needed. In the spirit of good corporate governance I consider it necessary to accept the appropriate consequences”, says Neubürger.
In December 2013 the KBA management board adopted a programme for the realignment of the KBA Group with the title “Fit@All”. It includes a package of measures aimed at strengthening the company's profitability long term and future development potential. The programme’s priorities are sustainable capacity and structural adjustments in the traditional core business, reducing the depth of added value as well as a stronger focus on growing special markets in which KBA is already well positioned today. Implementation of the measures defined in detail began at the beginning of 2014. The original goals of the programme will not be affected by personnel changes in the supervisory board.