Tognum to reduce executive board

As a second step, the company has decided to concentrate the entire market responsibility for the engines und onsite energy business units in a single Executive Board division to be headed by Peter Kneipp, the board member currently responsible for engines. The board member currently responsible for onsite energy and components, Christof von Branconi, is leaving the company on 30 September for personal reasons.

As already announced, Joachim Coers will assume the position of CEO on 1 October 2011 and Dieter Royal that of CFO. Coers succeeds Volker Heuer, who will retire on 30 September.