Germany’s FUCHS PETROLUB SE, the world’s largest independent lubricant manufacturer, announced that Kurt Bock, former CEO of German chemical manufacturer BASF SE, will succeed Jürgen Hambrecht as chairman of its supervisory board. Hambrecht, who became chairman in 2011, intends to resign at the end of the annual shareholders’ meeting on 7 May 2019. If elected, the supervisory board intends to appoint Bock as chairman
At the upcoming elections of the supervisory board members in 2020, Erhard Schipporeit will retire from the supervisory board. Schipporeit has been a member of FUCHS PETROLUB’s supervisory board as well as the chairman of its audit committee since 2008. Since 2017 he has also been deputy chairman of the supervisory board. At the annual shareholders’ meeting in 2020, the supervisory board will propose Christoph Loos, CEO of HILTI AG, for election to the supervisory board.
These announcements are part of the company’s long-term succession planning for the organization of the Supervisory Board of FUCHS PETROLUB SE.
“FUCHS PETROLUB SE is delighted that these two proposals for succession will once again attract renowned entrepreneurial personalities with international experience for its supervisory board,” the Mannheim-based company said.
The FUCHS Group develops, produces and markets high-quali5y lubricants and related specialties for virtually all industries and areas of application. Formed in Mannheim in 1931, the group employs more than 5,000 people worldwide at 58 operating companies. Its most important markets in terms of sales revenues are Western Europe, Asia and North America.