04.08.2010

Sick to leave Wacker Neuson

Dr. Georg Sick, chief executive of German based Wacker Neuson has said that he not renewing his contract, which expired at the weekend he says that he intends to pursue new business opportunities. The company will be looking for an external successor.

At the request of the company’s supervisory board, he has agreed to continue until the end of the calendar year. Sick has been a member of group’s management team for 15 years and was responsible for development and production until taking over as CEO in 2005.

Speaking after the announcement Sick said: “I am proud to have been able to serve the group during an extremely interesting period of growth that was only briefly interrupted by the economic downturn. In addition to tackling various technology challenges, I was particularly keen to drive the company’s transition from a hidden champion to a strong capital market player while retaining its corporate culture. Company finances are strong. We have established a prime position in markets across the globe and have highly qualified managers and staff on board.”
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Dr. Georg Sick

Chairman Hans Neunteufel said: “Under Dr. Sick’s management, the group experienced strong organic growth, flanked by successful acquisitions and culminating in the merger with Neuson Kramer AG, a move that was extremely well received by the market. The supervisory board regards the long-term alliance with Caterpillar, which was finalised a few weeks ago as a significant milestone in the company’s future development. We regret Dr. Sick’s decision to leave the company and have asked him to continue as CEO until the end of the year.”