EQS-News: Knorr-Bremse Aktiengesellschaft: Dr. Nicolas Lange to join Knorr-Bremse’s Executive Board and guide the market leader’s rail business
EQS-News: Knorr-Bremse Aktiengesellschaft
/ Key word(s): Personnel/Personnel
Dr. Nicolas Lange to join Knorr-Bremse’s Executive Board and guide the market leader’s rail business
Munich, September 22, 2023 – The Supervisory Board of Knorr-Bremse AG, global market leader for braking systems and a leading supplier of other rail and commercial vehicle systems, made an important personnel decision during its meeting today: Dr. Jürgen Wilder, the Executive Board member who oversees the company’s global Rail Vehicle Systems division, will leave the company on the best terms on September 30, 2023 and resign from his position on the Executive Board. An internal successor has already been selected: The Supervisory Board unanimously appointed Dr. Nicolas Lange as the new member of the Executive Board who will lead the Rail Vehicle Systems division effective October 1, 2023. Dr. Lange has most recently served as the Chairman of the Management Board of Knorr-Bremse Rail Vehicle Systems and has worked at the Knorr-Bremse Group for more than 20 years. In his current position, he oversees the global braking system business of the Rail division and the European business activities that generate about half of the division’s revenue.
Dr. Reinhard Ploss, the Chairman of the Supervisory Board of Knorr-Bremse AG, said: “On behalf of the Supervisory Board, I would like to thank Jürgen Wilder for his exceptional commitment to the company and the hard work he did for it. He is someone who truly knows the rail industry inside out. While leading the division, he continued to successfully grow the global rail business of Knorr-Bremse and led it through some challenging times, including the corona crisis. As the company shifts its strategic focus, he has decided to move in a different direction himself. We wish him much success and all the best in his future endeavors.” Dr. Wilder has served on the Executive Board of Knorr-Bremse AG since September 2018.
Dr. Reinhard Ploss added: “I am really happy that the successor question could be settled optimally: Nicolas Lange is a remarkably strong internal successor. Nicolas Lange has been a part of Knorr-Bremse for many years. As Chairman of the Management Board of Knorr-Bremse Rail Vehicle Systems, he has the technical expertise and the international experience needed to lead this business in the best possible way. He is someone who can continue to expand our global rail business and generate the momentum that will lead to new innovations. He stands for both continuity and for the change that the Executive Board initiated several weeks ago as part of its strategic update. Nicolas Lange will be a valuable addition to the Executive Board team led by our Executive Board Chairman Marc Llistosella.”
Dr. Nicolas Lange said: “I would like to thank the Supervisory Board for the trust that they have placed in me. I would also like to thank Jürgen Wilder for the very good working relationship we have enjoyed over the years. He is turning an exceptionally well-positioned, high-potential division over to me. I am really looking forward to a trusting relationship with the entire Executive Board. The rail division is brimming with great ideas and innovations that we will energetically use in future months and years to benefit both our customers and Knorr-Bremse.”
Dr. Nicolas Lange began his career at Knorr-Bremse in 2000 in the Rail Vehicle Systems division, where he climbed, rung by rung, up the career ladder. The mechanical engineer was named division head in 2009. He joined the Management Board of Knorr-Bremse Rail Vehicle Systems in July 2017. He became Chairman of the Management Board in November 2019. Nicolas Lange is 55, married and has three children.
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Knorr-Bremse (ISIN: DE000KBX1006, ticker symbol: KBX) is the global market leader for braking systems and a leading supplier of other safety-critical rail and commercial vehicle systems. The products made by Knorr-Bremse contribute tremendously to increased safety and energy efficiency on railways and highways. About 32,600 employees who work at over 100 locations in more than 30 countries apply their expertise and motivation each day to meet their customers’ needs for products and services. In 2022, both divisions of Knorr-Bremse generated a total of € 7.1 billion in revenue. For more than 115 years now, the company has been an innovative force in its industries. It fuels developments in mobility and transport technology and has moved to the forefront of connected system solutions. Knorr-Bremse is one of Germany’s most success industrial groups and profits from major global megatrends: urbanization, sustainability, digitalization, and mobility.
This publication has been independently prepared by Knorr-Bremse AG. It may contain forward-looking statements which address key issues such as strategy, future financial results, events, competitive positions, and product developments. These forward-looking statements – like any business activity in a global environment – are always associated with uncertainty. They are subject to a number of risks, uncertainties and other factors, including, but not limited to, those described in Knorr-Bremse’s disclosures. Should one or more of these risks, uncertainties, or other factors materialize, or should underlying expectations not occur or should assumptions prove incorrect, the actual results, performances, or achievements of Knorr-Bremse may vary materially from those described in the relevant forward-looking statements. Such forward-looking statements may be identified by words such as “expect,” “want,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “estimate,” “will,” “project,” or words of similar meaning. Knorr-Bremse does not intend, nor does it assume any obligation, to update or revise its forward-looking statements regularly in light of developments which differ from those anticipated.
This publication may include supplemental financial measures – not clearly defined in the applicable financial reporting framework – that are or may be alternative performance measures (non-GAAP measures). Knorr-Bremse’s financial position, financial performance, and cash flows should not be assessed solely on the basis of these alternative supplemental financial measures. Under no circumstances do they replace the performance indicators presented in the consolidated financial statements and calculated in accordance with the applicable financial reporting framework. The calculation by other companies that report or describe similarly titled alternative performance measures may vary despite the use of the same or similar terminology.
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