The management of Homag Group AG in Schopfloch will change: Pekka Paasivaara, the CEO of the globally operating company, yesterday informed the chairman of the supervisory board, Ralf W. Dieter, that he will not be available for another term of office beyond his mandate which expires on June 30, 2023.

“For personal reasons, I do not intend to extend the management board service contracts concluded with me with Homag Group AG (term until June 30, 2023) and with Dürr AG (term until December 31, 2021) beyond the agreed term. I am currently continuing to perform my role as Chairman of the Board of Management of Homag Group AG and member of the Board of Management of Dürr AG”, Paasivaara stated.

The supervisory board will deal with the succession in due course – it remains to be seen whether the position will again be filled “outside the industry” or whether someone from within the company will move up from Homag Group AG or Dürr AG.