Member of the SAF-Holland S.A. board of directors Rudi Ludwig will take over as the company’s CEO effective Dec. 18. Ludwig, who was chairman of SAF-Holland’s management board from 2003 to January, 2009, will replace Dr. Reiner Beutel, who will leave the company and its board of directors following the completion of an operational restructuring of the company.
Under Beutel’s guidance and restructuring efforts, SAF-Holland was able to post a third-quarter profit this year, the Luxembourg-based global manufacturer pointed out. “After the successful completion of the refinancing and implementation of the operational restructuring measures, I will now turn my attention to new challenges,” Beutel said in a statement released to the press.
SAF-Holland noted in its press release that after the restructuring, one of Ludwig's “main tasks will be aligning the company for growth.”
