Personnel and structural changes are taking place at the Recaro Group, a provider of high-quality seating solutions, setting the course for the next phase of the company's development. On January 1, 2022, Dr. Mark Hiller CEO of Recaro Aircraft Seating since 2012, will also become CEO of Recaro Holding GmbH, the Group's strategic management company. He will be succeeding Recaro Shareholder Martin Putsch in this position.
Peter Müller, as a long-standing member of the Executive Management Team of Recaro Aircraft Seating responsible for Finance & Administration, will additionally assume the role of Chief Financial Officer (CFO) at Recaro Holding. Hartmut Schürg is to remain responsible for Brand and Design in the future three-member management team of Recaro Holding. The reorganisation of Recaro Holding's management is intended to enhance teamwork within the Group, allowing synergies to be harnessed for existing market opportunities.
After 25 years of operational leadership, 20 of which as the head of the Group, Putsch, Chief Executive Officer and Shareholder of the family company in its fourth generation, is moving from Recaro Holding, where he holds the dual position of CEO/CFO, to the Advisory Board of the Recaro Group, where he will take over as Chair. The Advisory Board, which is expanding to seven members and consists of top-flight national and international experts from industry, aviation and science, is the key supervisory and consulting body for the Recaro Group. The current Chair of the Advisory Board, Prof. Burkhardt Funk, will become Vice-Chair.
In addition, Recaro Aircraft Seating's management team will be enhanced through the addition of Laura Karbach and Denis Altmann, both of whom have been recruited from within the company's own ranks. Karbach will be responsible for Supply Chain and Sustainability while Altmann will be assuming responsibility for Research & Development. The new position of plant manager will be created for the Schwäbisch Hall site, headed by Mirjam Bruhns, who was also recruited from within Recaro Aircraft Seating.
In addition to this bolstering of the management structure, the shareholding structure of the family company will also be broadened. In the future, the Hiller family will hold a minority stake in the Recaro Group, while the Putsch family remains the clear majority shareholder. This new stake is an expression of the long-standing bond and mutual appreciation between the two families.
