Management change at KSPG AG's Mechatronics division

The Neuss-based Mechatronics division of the first-tier auto-industry supplier KSPG AG, Neckarsulm, Germany, will be headed by Olaf Hedden (49) as from March 1, 2014.

He is succeeding Dr. Stefan Knirsch who is leaving the company in the direction of Audi AG. Hedden is presently CEO of Läpple AG, Heilbronn, which he succeeded in restructuring and turning around to profitability after years of heavy losses.

Hedden has many years of experience working with Pierburg since, before switching to Läpple in 2010, he had served on the former's Management Board for several years. He will come back to the KSPG Group in order to head the Management Boards of Pierburg GmbH and Pierburg Pump Technology GmbH which together make up KSPG AG's Mechatronics division. He will be responsible for sales of currently around €1.1 billion generated by some 4,000 employees.

Comments Horst Binnig, designated CEO of KSPG AG: "We are pleased to have won back to KSPG AG such an experienced automotive industry manager as Olaf Hedden who from his previous years with Pierburg is closely acquainted with the customers, structures and employees of our Mechatronics division and so job familiarization should be very easy."

In a related move, Dr.-Ing. Peter Spahn (57), likewise a Manager of the KSPG Group, will succeed Hedden at Läpple as from February 1, 2014. Spahn chaired most recently the Management Board at the Plain Bearings unit (sales of around €230 million and a workforce of 1,500) where he has laid the foundations for profitable growth while massively accelerating the unit's internationalization efforts.

Both managers know each other well from their years together at the Kolbenschmidt Pierburg Group which three years ago was renamed KSPG AG. They will be working closely together to ensure a smooth handover.

About Olaf Hedden:

Olaf Hedden was born in Hamburg on March 8, 1964, is married, has a daughter, and lives in Neuss. Having graduated in business administration at Hamburg university he commenced his career at Metallgesellschaft, Frankfurt. After several positions at Deutsche Voest-Alpine in Ratingen and Rheinmetall AG in Düsseldorf, he was appointed Management Board member for commercial matters at Pierburg GmbH, Neuss. Since 2010, he has been CEO at Läpple AG, Heilbronn, which has annual sales of around €450 million and a workforce of about 2,000.

About KSPG AG:

With annual sales in the region of €2.3 billion, the KSPG Group ranks among the 100 biggest auto-industry suppliers worldwide. The Group has over 35 production locations in Europe, the Americas, Japan, India, and China. It has a workforce of over 12,000. KSPG AG is the parent and flagship company of the Automotive sector of the Rheinmetall Group, Germany. Operating for over a century as a first-tier supplier on the international automotive markets, KSPG AG consists of three divisions: Hardparts, Mechatronics, and Motorservice.

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