KBA appoints temporary supervisory board chairman

Gottfried Weippert, vice-chairman of the KBA supervisory board, has taken 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.

In December 2013, the KBA management board adopted a program for the realignment of the group under the banner Fit@All. It includes a package of measures aimed at strengthening the company's profitability in the long term and future development potential.

The program’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.

Implementation of the measures defined in detail began at the beginning of 2014.

Neubürger has cited the high investment in terms of time and presence on-site which have arisen from the implementation of the Fit@All restructuring program as reasons for his decision.

‘Demands regarding my availability have changed substantially since the election by the AGM in June 2013,’ Neubürger said. ‘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.’

The original goals of the Fit@All program will not be affected by personnel changes in the supervisory board.