Heidelberg CEO Gerald Linzbach will step down when his contract ends in August next year to ‘start a new career phase of his life.’ The 60-year-old Linzbach was forced to take extended leave in June 2015 because of health problems but returned as chairman in January this year.
In a statement, Heidelberg said, “The chairman of the Management Board of Heidelberger Druckmaschinen AG (Heidelberg), Gerold Linzbach, informed the Supervisory Board that,
following the successful turnaround, he would not be seeking the extension of his contract and aims at pursuing new professional challenges.”
Ensuring an orderly handover of functions, he will continue to serve the company until the scheduled end of his contractual term in August 2017 and, after Heidelberg’s successful restructuring, remains fully committed to promoting the Group’s strategic advancement together with his team. This allows the Supervisory Board sufficient time to find a suitable replacement.
The Supervisory Board of Heidelberger Druckmaschinen respects Linzbach’s decision which it has accepted with great regret. At the same time, it has expressed its appreciation for
Linzbach’s intensive work and strong dedication in particular in connection with the successful repositioning. Linzbach has been strongly committed to the company and has lead Heidelberg into a new direction which is geared towards sustainable profitability and establishes the base for further growth, in particular in the segments Digital, Services and Packaging. Following the successful repositioning, Linzbach will dedicate his time to other entrepreneurial targets and start a new career phase of his life.
