Markus Ganahl continues as COO, Markus Bode (CSO) and Elke Vlach (CFO) will join the Board of Management as of July 1, 2024, Holger Fastabend (previously CSO/CTO) remains CTO and will succeed Arno Haselhorst as CEO and CRO.
GG Group (Gebauer & Griller) initiated an active transformation process at the end of 2022 to align the company with the future needs of the market and ensure long-term financial stability and profitability. The automotive industry is still in a phase of upheaval in terms of consumer preferences, new mobility concepts and technological innovations. Companies with the ability to survive in this environment need a profound and resilient financial basis in order to deliver largely stable earnings and finance future growth, even in the event of fluctuations in sales or costs. With this in mind, over 500 individual measures have been identified and successively implemented in all areas of the company since the start of the transformation process, with the aim of maximizing both the effectiveness and efficiency of all operational processes and workflows.
Following an already satisfactory half-year result, the annual result for the completed financial year 2023/24 now also proves the effectiveness of the measures taken: Compared to the previous year, a higher operating result was achieved despite a negative deviation from the forecasted revenues. All relevant key financial figures were further improved and the debt ratio was significantly reduced, in part by a further significant reduction in working capital. As a result, debt capital needed for investments will be available at lower cost in the future - a decisive factor for GG for the proactive development of all global locations and for pursuing the strategic goal of realizing profitable growth in the American market in the medium and long term, which needs sustainable pre-financing.
The overall effects targeted in the transformation process were therefore achieved even before its planned end in financial year 2024/25. “The financial stability reached will enable GG to make the currently planned investments as well as the ongoing footprint expansions in Ruse, Bulgaria and San Juan del Río, Mexico, and also to invest in lucrative strategic options of the future already today,’ says Arno Haselhorst, CEO, CFO and CRO of the GG Group, who will leave the company on 30 June 2024. Opposing market trends such as the lack of economic dynamism in Europe and the hesitant development in e-mobility were all compensated for. Holger Fastabend, CEO, CRO and CTO as of 1 July 2024, adds: “The current financial situation and the measures we have taken provide a strong basis for implementing our strategic goals. We must now once again demonstrate perseverance, stay on course, and identify and realize further potential. Our portfolio enables us to benefit from the high dynamics of the mobility sector - we will now maintain this momentum to achieve long-term success.”
For the coming phase of the Transformation process GG Group is reorganizing and expanding its Board of Management: Markus Ganahl (51), with GG Group since 1 February 2024, remains COO. Markus Bode (50), previously Vice President Global Sales Account & Regional Customer Management and with GG since 2018, and Elke Vlach (46), previously Vice President Corporate Finance and with the company since 2015, will join the Board of Management as CSO and CFO on 1 July 2024.
As COO, Markus Ganahl will continue to manage GG Group's plants and lead the group area Manufacturing Engineering and, from 1 July, will also be responsible for Supply Chain Management, IT and digitalization across the Group.
In his new role as CSO, Markus Bode is responsible for group-wide Sales with all customer-oriented service areas, Product Management, Business Development, Customer Management USMCA and also all regional sales organizations and initiatives, as well as the China business area including all joint venture activities.
In her new position as CFO, Elke Vlach heads the global Corporate Finance, Treasury, Legal & Compliance departments as well as the Corporate Transformation Project Office set up for the duration of the transformation process.
Holger Fastabend (58), previously CSO/CTO at GG Group and part of the management team since 2016, will take over the role of CRO created during the transformation process from 1 July 2024 and the position of CEO from Arno Haselhorst, who is stepping down from his positions as planned and in agreement with the shareholders of GG Group during the current project phase of the transformation process. As CRO, Holger Fastabend will be responsible for the further implementation of the transformation concept, including the associated measures. The CEO's agendas include the Group divisions Strategy & ESG, Marketing and Communications, Human Resources and Purchasing. As CTO, he will continue to be responsible for all Technical Development departments, including Prototyping, Innovation, Standardization and Project and Portfolio Management.
The handover of tasks and areas of responsibility will occur gradually and is already being implemented, with Arno Haselhorst continuing to be available to the company in an advising function. “On behalf of the shareholders of GG Group, I would like to express our sincere thanks to Mr Haselhorst for his professional commitment and the successful start of the transformation of our company. Based on the results achieved and the improved target figures, we are confident that we will be able to take the next steps with our team. We trust in the high level of expertise of the new Board of Management and will fully support them in the further implementation of the transformation concept,” said Nikolaus Griller, President of the Shareholder Committee of GG Group.
GG Group's new board of management: Holger Fastabend (CEO, CRO & CTO), Markus Bode (CSO), Elke Vlach (CFO) and Markus Ganahl (COO) (f.l.t.r.)
