August 1, 2014 Schwanau / Germany. The Supervisory Board and Board of Management have initiated a generational change in the top management of Herrenknecht AG, headquartered in Schwanau (Baden-Württemberg, Germany). With effect from August 1, 2014 the senior management executives Günter Richter (54), Ulrich Schaffhauser (50) and Michael Sprang (36) have risen to the ranks of top management as Deputy Members of the Board of Management. They thus join the long-standing Board of Management team around Chairman and company founder Dr.-Ing. E.h. Martin Herrenknecht (72), Vice Chairman Gebhard Lehmann (62) and Chief Financial Officer Kurt Stiefel (58). The existing Board of Management members have held their positions since the transformation of the limited liability company Herrenknecht GmbH into a stock corporation on July 31, 1998. Together they took the Herrenknecht Group to market leadership in mechanized tunnelling worldwide (annual sales 2013: 1,051 million Euros).
The appointment of the three new members follows a plan for orderly succession in the Group's Board of Management. Günter Richter and Ulrich Schaffhauser have been in positions of responsibility at Herrenknecht for more than 20 years, and Michael Sprang since 2010. They have sound and broad management experience. As "home-grown talent", in the past years they have contributed decisively to the overall success of the family-run company. The existing Board of Management portfolios remain unchanged.