Leadership to pass to fourth generation as Engel chief is set to retire

Engel (Schwertberg, Austria) announced today, after 35 years at the helm, Peter Neumann will step down as chairman of the executive board of the Engel Group of Companies.  “There is some melancholy,” said Dr. Peter Neumann, on making the announcement, “But also optimism because Engel is well established and continuity in management has been secured.”

He said that the planned date for his retirement is Nov. 30, 2016—“on the occasion of my 60th birthday.”

Engel has been preparing for the transition of the leadership of the group for some time now.  The first hint came a few years ago when two members of the fourth generation of the owning family took their seats on the executive board; already, Dr. Stefan Engleder has been responsible for R&D, engineering and production for more than three years and Dr. Christoph Steger for sales and marketing for more than two years.

Dr. Stefan Engleder, a great-grandson of Engel’s founder Ludwig Engel, will assume the position of chairman of the executive board on Dec. 1, 2016. The executive board itself will continue to consist of four persons: in addition to the new chairman, Dr. Stefan Engleder, the board will consist of Dr. Christoph Steger (another family member, responsible for sales, marketing and in the future, CSD), Dipl.-Oec. Klaus Siegmund (responsible for finance, personnel and IT) and DI Joachim Metzmacher (formerly division manager production large-tonnage machines) for global production.

“It is a great honor and also a challenge taking over the chairmanship from Dr. Neumann,” Stefan Engleder stated.

“He has shaped the company for decades and played a significant part toward the success of the business. Thus, it has been all the more important, to prepare the transition well on a long-term basis. This we have managed very well over the last couple of years.”

Adding: “Together with my colleagues in the executive board, we aim on continuing the business in Dr. Neumann’s sense and following up from where we are today.”

Dr. Birgitte Engleder, chairwoman of the supervisory board, expressed satisfaction at the smooth transition from the third to the fourth generation.

“Due to good planning and preparation this step has been executed very professionally and farsighted. I am proud to witness the next generation taking over and I am sure that Stefan Engleder as new chairman of the executive board together with Christoph Steger and the other executives will continue the success story that my grandfather started,” she said.

She went on to thank Peter Neumann for his years of service and to wish him all the best for the “new chapter in his life on behalf of all employees, the other members of the executive board and the owning families”.

“His unconditional dedication towards Engel has been admirable and reflects his uncompromising commitment. His actions have always truly been focused on the welfare of the company, from the beginning he has fully supported the transition to the next generation and over many years has brought Engel to where we are today—among the global leaders in the field of plastics machinery.”

Neumann and Engleder stressed the fact that Peter Neumann would continue to be available to the company after the official handover, providing counsel and support to the executive board whenever necessary.