Mercedes-Benz has announced that as Sari Baldauf is stepping down from the Board after 15 years at the conclusion of the annual general meeting of Mercedes-Benz Group AG on May 3, 2023, Stefan Pierer will be proposed as her successor at the annual general meeting.
Bernd Pischetsrieder, Chairman - Supervisory Board, Mercedes-Benz Group AG, said, 'With Sari Baldauf, an extremely valued colleague is leaving us. Over the past 15 years, she has played a significant role in shaping the work of the Board with her broad entrepreneurial knowledge and extensive international experience.”
Pierer studied business and energy management at the Montanuniversität Leoben (Austria) and graduated with a degree in engineering in 1982.
After holding various positions with the heating and ventilation manufacturer, Hoval, he founded his first investment company in 1987. Since 2011, the main company holdings have been bundled into Pierer Industrie AG, with Pierer serving as CEO and sole shareholder. In 2022, the industrial group recorded annual sales of around € 3.5 billion and employed around 11,000 people.
Companies that belong to Pierer Industrie AG include the Pankl AG Group and the Pierer Mobility Group, the latter of which includes world-renowned motorbike brands such as KTM, and Husqvarna Motorcycles.
Pischetsrieder noted that Pierer is a strong addition to the Board, especially due to his in-depth industry know-how and expertise in product and brand development. He is also a forward-thinking founder and entrepreneur who brings a deep understanding of how to transform companies successfully, the supervisory board chairman added.
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