Fuchs Petrolub SE, the world’s largest independent lubricant manufacturer based in Mannheim, Germany announced that Alexander Selent, 62, vice chairman of the Executive Board, will retire at the end of 2015. The business economist was CFO of Fuchs Petrolub SE for the past 16 years. Dagmar Steinert, 50, will succeed Selent as CFO effective January 1, 2016. Steinert studied business economics and worked in an audit firm, most recently as tax advisor and chartered accountant for PWC. After further years as an executive in the area of finance at Rheinmetall, she started as head of investor relations at Fuchs Petrolub in 2013.
The Supervisory Board further decided to enlarge the Executive Board to five members and appointed Timo Reister, 36, as the Board member responsible for Asia-Pacific/Africa as of January 1, 2016. Reister studied business economics and later earned his Ph.D. He began his career at Fuchs in 2009, where he was responsible for the OEM and Lubritech businesses in the U.S., as well as Mexico, for nearly five years. Since 2014, Reister has been a member of the Group Management Committee based in Shanghai and carries the responsibility for the growth region Asia-Pacific.
The Supervisory Board also decided to renew the contract of Stefan Fuchs, 47, the chairman of the Executive Board, until June 30, 2021. Other members of the Executive Board are Lutz Lindemann, 55, and Ralph Rheinboldt, 47. Lindemann carries the responsibility for Research & Development, Technology, Supply Chain and the international OEM and Mining businesses. Rheinboldt is responsible for Europe and the international Lubritech business.