Board says Hiller and new CFO Matthias Rapp ”identify strongly” with goals of becoming more robust and profitable as group faces up to financial challenges
BayWa AG has announced that its supervisory board has approved the appointment of Dr Frank Hiller as Chief Executive Officer and Professor Dr Matthias Rapp as Chief Financial Officer.
Hiller and Rapp will be appointed to the board of management as of 1 March, the group confirmed.
Supervisory board chairman Gregor Scheller said that, with BayWa undergoing a strategy of transformation, the new officers “identified strongly” with its goals – adding that Hiller and Rapp had experience when it came to leading companies facing difficulties.
“BayWa is undergoing the greatest transformation in its history,” Scheller stated. ”The company needs to become sustainably more robust and profitable, and to do so it is focusing on its core business areas.
”We are therefore delighted to welcome the two new members of the board of management, who identify strongly with these goals.
“Dr Frank Hiller has an impressive track record and extensive experience in managing various companies in difficult times,” he continued. ”Above all, however, he is a manager who puts the customer first.
”We on the supervisory board are convinced that he will shape the strategic development of the company along the defined guidelines and successfully implement the associated ideas.
”The management team will thus lead BayWa into a solid and successful future.”
Scheller pointed out that Rapp had ”extensive expertise” in financial management.
”He has proven time and again that he can successfully lead companies through difficult financial challenges and has strong communication skills,” he noted.
”Both gentlemen have assured the supervisory board that it is their personal goal to lead BayWa back to success for the benefit of our customers, suppliers and employees.”
Hiller said he was excited to be joining BayWa, and was ready to take on the challenges faced by the group.
“We are facing a fundamental transformation that has been triggered by major financial challenges,” he said.
”BayWa is firmly rooted in agriculture and has always enjoyed an excellent reputation among its customers. Our top priority will be to restore BayWa’s good name in the market.
I will do everything in my power to lead the company back to its usual stability and commitment,” Hiller commented. “This is what our customers, our shareholders and our employees expect.”
Rapp said he ”firmly believed” that together they had the strength and potential to make BayWa more solid and profitable again.
”It will not be easy, but with determination, transparency and cooperation, we will successfully master this transformation,” he added.
