(PRESS RELEASE) DÜSSELDORF, 24-Jul-2019 — /EuropaWire/ — Horst Binnig, 60, to retire from Rheinmetall Automotive AG and the Group holding company Rheinmetall AG after 20 successful years in the Automotive sector. Binnig, currently serving as Chairman of the Executive Board of Rheinmetall Automotive AG and as a member of the Executive Board of the Group holding company Rheinmetall AG, has informed the Supervisory Board about his intention to leave for personal reasons. Upon closing of the succession plan with a smooth transition of leadership positions, Horst Binnig will actually be leaving the Group by the end of 2019.
Binnig has joined the Automotive sector of Rheinmetall Group in 1999 initially starting in the Corporate Development. He then led the Automotive subsidiary KS Aluminium-Technologie. Prior to joining Rheinmetall Group Horst Binnig was working for KACO Group and Hengstler GmbH. He was instrumental in helping establish Rheinmetall’s second major joint venture with SAIC (Shanghai Automotive Industry Corporation) in China. Furthermore, Binnig led the vigorous expansion of Rheinmetall Automotive’s activities in China as part of the company’s internationalization strategy.
Member of the Executive Board of Rheinmetall Automotive AG since 2012, Horst Binnig has become the Chairman in early 2014. During the same year, he was also appointed to the Executive Board of Rheinmetall AG.
Commenting on Horst Binnig’s departure, Ulrich Grillo, Chairman of the Supervisory Board of Rheinmetall AG and Armin Papperger, Chairman of Rheinmetall Automotive AG’s Supervisory Board, said:
“Even though there is still some time left before his departure, we would like to thank Horst Binnig today. Not only has he played a decisive role in the extremely positive development of Rheinmetall Automotive’s business over recent years, he also delivered important impetus for the development of the Rheinmetall Group as such as a member of the Group’s Executive Board. All the more do we therefore regret his decision as much as we respect it.“
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SOURCE: Rheinmetall AG