Continuity on Tognum Executive Board
Posted on April 12, 2010
The contracts of two members of the Executive Board of the specialist for propulsion and power solutions Tognum, which expire in September, were extended in today’s Supervisory Board meeting. The contract of the CEO Volker Heuer (57), at his own request, has been extended by a year, while that of the CFO Joachim Coers (45) has been extended by a further 3 years.
- Supervisory Board and Executive Board pave the way for succession in advance
- CEO Volker Heuer to transfer Chairmanship to the previous CFO Joachim Coers in autumn 2011
- Proven corporate strategy to continue unchanged
Friedrichshafen, 12 April 2010. The contracts of two members of the Executive Board of the specialist for propulsion and power solutions Tognum, which expire in September, were extended in today’s Supervisory Board meeting. The contract of the CEO Volker Heuer (57), at his own request, has been extended by a year, while that of the CFO Joachim Coers (45) has been extended by a further 3 years.
By extending the contracts, the Supervisory Board has at the same time unanimously clarified the succession for Volker Heuer at an early date, thus ensuring long-term planning of the continuing success of the Executive Board’s work. The choice of Joachim Coers has been expressly welcomed by the employee representatives on the Supervisory Board. The decision means that the former CFO and Deputy Chairman of the company’s Executive Board Joachim Coers will take over as Chairman of the Executive Board as from September 2011. Volker Heuer will leave the company at his own request in autumn 2011. The Supervisory Board regrets the decision taken by Volker Heuer who successfully guided the company to independence and enabled it to go public in 2007. “Volker Heuer has always been the man driving forward the corporate strategy on which he has had a major influence and which he implemented with great care and vision. The fact that Tognum has been able to overcome such a difficult phase as the worst financial and economic crisis since the Second World War and emerge as a profitable company is due primarily to his foresight and his entrepreneurial skills,“ said Rolf Eckrodt, the Chairman of the Tognum Supervisory Board, emphasising Volker Heuer’s contribution to the Company’s success.
Joachim Coers has been Deputy Chairman of the Executive Board and CFO of Tognum AG since 2007 and is responsible for the Group Services. He is also Managing Director of MTU Friedrichshafen GmbH and its Industrial Director. Joachim Coers was born in 1965 and graduated with a degree in economics from the University of Bonn in 1991. He began his professional career with the Daimler Group in 1993 in the finance division of debis Marketing Service GmbH in Frankfurt am Main, where he remained until 1995. The next two year were spent in the accounting and controlling department of debis Trading GmbH in Berlin. He then joined the Freightliner Corporation in Portland, USA, where he was responsible for corporate planning and strategic controlling. From 2000 until 2001, he was head of marketing and services controlling at Adtranz DaimlerChrysler Railsystems GmbH in Berlin, and then in February 2001 took over the position as head of accounts and controlling at Mitsubishi Motors Corporation in Tokyo, Japan. In September 2004, Joachim Coers was appointed project manager at MTU Friedrichshafen for mtu‘s Top programme, which was designed to improve corporate performance in all areas of the company. Then in 2005, Joachim Coers was appointed Managing Director of MTU Friedrichshafen GmbH. Since Tognum AG was founded in 2007, he has been a member of the Executive Board and Industrial Director, and is responsible for the Group Services.