Wacker Neuson chief executive Cem Peksaglam to step down

Cem Peksaglam, chief executive of Munich-based Wacker Neuson, is leaving the company. The company said in a written statement that Peksaglam, 49, had informed the supervisory board that, “following the successful realignment of the group’s strategy, he does not intend to renew his contract as he has decided to pursue new endeavors”. Peksaglam’s six-year contract expires in August and the company said it will announce his successor “in due course”.
May 2, 2017 Read time: 2 mins
Cem Peksaglam, chief executive of Munich-based 1651 Wacker Neuson, is leaving the company.


The company said in a written statement that Peksaglam, 49, had informed the supervisory board that, “following the successful realignment of the group’s strategy, he does not intend to renew his contract as he has decided to pursue new endeavors”.

Peksaglam’s six-year contract expires in August and the company said it will announce his successor “in due course”.

The Wacker Neuson Group has experienced strong growth in recent years and the board also noted that the group’s share value and market capitalisation have more than doubled since September 2011. A number of new facilities have been built, including a skid steer loader plant in the US, a generator plant in Brazil and an excavator production site that will shortly be opened in China.

Hans Neunteufel, chairman of the supervisory board, said Peksaglam showed huge personal commitment to the company and his role. Alongside his tasks as chief executive, Peksaglam was responsible for strategy, mergers and acquisitions, human resource, legal, compliance, real estate, investor relations, corporate communication and sustainability.

For more information on companies in this article

Related Content

  • BIA announces new CEO & strengthens management team with new VP sales & marketing
    May 7, 2024
    BIA Group, a major player in distributing equipment and services for the mining and quarrying, construction, transport and energy supply sectors, has unveiled its new CEO.
    Read More
  • TRL acquires Transport & Travel Research
    April 15, 2014
    TRL has announced the acquisition of Transport & Travel Research (TTR) making it a wholly owned subsidiary of TRL. A minority shareholder in TTR since 2010, TRL has stated that TTR will continue to operate as an independent organisation. TTR’s chairman, David Blackledge, has stepped down from the Board to take on a role as Special Advisor, while TRL's chief executive, Rob Wallis, is appointed chairman of TTR (in addition to his other group company responsibilities) with immediate effect. All other operat
    Read More
  • Volvo bullish in Asian market
    February 29, 2012
    The manufacturer Volvo Construction Equipment has major growth plans for its presence in Asia and China in particular.
    Read More
  • Market bullish at bauma China 2016 exhibition
    February 1, 2017
    Key manufacturers reported a return to business confidence in China at the recent bauma China 2016 construction equipment exhibition The event was held at the Shanghai New International Expo Centre (SNIEC) and attracted 170,000 visitors from 149 countries, despite the cold weather and constant rain that plagued its first two days. The healthy attendance is a reflection of the gradually improving Chinese market. The Chinese economy suffered a slump in business levels in recent years, following a boom per
    Read More

Highlighted Content