Recently, German automotive supplier Webasto announced that due to its ongoing major restructuring, current CEO Holger Engelmann has reached a mutual agreement with the company's Supervisory Board to step down, effective March 17. The Supervisory Board has appointed Jörg Buchheim as the new Chairman of the Management Board, while Holger Engelmann will officially leave Webasto on March 31.
Holger Engelmann was originally scheduled to depart upon the expiration of his contract at the end of 2025. However, given the need for continuous leadership during Webasto's restructuring, he has chosen to step down earlier.
In 2024, Holger Engelmann initiated Webasto's necessary restructuring efforts, implementing a series of measures to stabilize the company's operations. The restructuring plan is currently being developed, with completion expected in the coming years. To ensure a smooth transition, appointing a CEO with a strong focus on leadership continuity is crucial, and Jörg Buchheim's appointment paves the way for Webasto's transformation.
Jörg Buchheim brings extensive leadership experience to Webasto, known for his clear strategic vision and strong entrepreneurial spirit. As an electrical engineer, he has an impressive track record in transforming and realigning international automotive suppliers. During his tenure as CEO for China and Asia at Hella, he significantly expanded the business, optimized operations, and strengthened the company's position in the Asian market. As CEO and President of Inalfa Roof Systems, he led the company out of a crisis and back onto a growth trajectory. More recently, as Group CEO of Kongsberg Automotive, he implemented a comprehensive transformation plan, improving operational efficiency, driving strategic realignment, and significantly increasing order volumes.
With the appointment of Jörg Buchheim, the Webasto Supervisory Board and shareholders have sent a clear message: Webasto is determined to embrace challenges and lay the foundation for a successful transformation.
Jörg Buchheim stated: "I have been dedicated to the automotive industry for 25 years, and Webasto, as a company with a long-standing heritage, deeply appeals to me, as such legacies are becoming increasingly rare in Germany. My goal is to work closely with employees, Management Board members, the Supervisory Board, shareholders, and all stakeholders with a clear strategic direction to successfully lead Webasto through its transformation."
Building on the optimization plan initiated in early 2024 and the restructuring efforts launched later that year in response to the industry's deteriorating conditions, Webasto's management has laid a solid foundation for the company's necessary restructuring.
In January, following close consultations with the Supervisory Board, Management Board, shareholders, and banks, Webasto appointed restructuring expert Johann Stohner as Chief Restructuring Officer (CRO). With decades of experience in operational and financial restructuring, Johann Stohner has already achieved several critical milestones for Webasto.
Under the new leadership, Webasto will continue to drive and fully implement its restructuring plan, stabilize its financial position, and develop a long-term, sustainable growth strategy.
Webasto Supervisory Board Chairman Rolf Bulander expressed gratitude to Holger Engelmann for his decision to step down early to ensure leadership continuity for the company's restructuring. He stated, "The Webasto Supervisory Board and shareholders extend their sincere appreciation for Holger Engelmann's contributions and outstanding service."
Holger Engelmann commented: "Now is the right time to make this important decision, as the upcoming restructuring phase requires leadership continuity. I would like to thank the Webasto Supervisory Board, my colleagues on the Management Board, and all employees for their support and trust over the past years."
