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Change at the top at MetaboHorst W. Garbrecht to be new CEO / Successor to Dr Johannes Haupt / 17 years of industry and management experience / International know-how / Entry on 01.07.2009 at the latest / Power tool manufacturer plans to maintain course / Rigorous market orientationNürtingen, 15 January 2009. Metabo AG has announced a change in its top management. As the family-owned independent power tool manufacturer advises, the present CEO Dr Johannes Haupt (47) will leave the company on 01.02.2009. In agreeing to the move, the company states, the Supervisory Board had complied with Haupt's request to take on a new professional challenge with the leadership of a large middle market group of companies. At the same time it thanked him for his "professional and efficient" work in the past years, which had made a major contribution to Metabo's systematic orientation to the future. As Supervisory Board Chairman Dieter Maier underlines, with the appointment of Horst W. Garbrecht as Chief Executive Officer a "qualified and experienced successor" has already been found. The 43 year-old graduate engineer is to take up the position on 01.07.2009 at the latest. After studying mechanical and power engineering he began his career in the power tool industry in 1992 at manufacturer Festool. Currently Garbrecht is Managing Director at AEG-Milwaukee. With a total of 17 years of market practice, and management knowledge documented by a range of executive and management positions, he is a "real expert on the subject". Maier: "This profile, the important international know-how and the special competency for advanced innovation processes qualify Mr Garbrecht for his future role. We are therefore confident that we have made a very good choice with him." Together with the two other long standing Board of Management members Siegbert Hummel (Finance) and Erhard Krauss (Technical), Garbrecht's key task will be to ensure the continued successful development of the company and the premium brand "Metabo". The strategic and operative path pursued in recent years provided a stable basis for this, said Maier. Particularly in view of the current "exceptionally difficult" macroeconomic environment there were no plans for a change of direction, but rather a rigorously market and team orientated continuity in order to realise the short-, medium- and long-term objectives of the company. The Swabian power tool manufacturer recently reported annual sales of over 400 million euros with an export share of around 80 % and approx. 2,400 employees. Download: Pressrelease Bild: Garbrecht.jpg
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