Norbert Klapper, who has led Rieter as CEO for nine years, has informed the  Board of Directors that he wishes to take on new professional challenges. The  Board of Directors of Rieter Holding Ltd. has taken note of Norbert Klapper’s  resignation, expressing its gratitude for his service to Rieter. The Board of  Directors has appointed Thomas Oetterli as his successor as CEO of Rieter. 

Thomas Oetterli (53) has made a significant contribution to the successful  development of the world-leading Schindler Group, starting in 2006 as CEO  Switzerland, later as a member of the Group Executive Committee responsible  for Europe and China, and from 2016 until 2022 as CEO of the Group. With his  comprehensive leadership skills and many years of industrial and international  experience, Thomas Oetterli brings ideal prerequisites to lead Rieter as a global  market leader through the current challenges and successfully develop it further  in the long term. He will take over the function of CEO from Norbert Klapper on  March 13, 2023. 

The Board of Directors would like to thank Norbert Klapper for his many years of hard  work for Rieter and his lasting contribution to the company, particularly in terms of  further strengthening its technology leadership, developing the components and  service business, completing the systems offering, and wishes him all the best for the  future, both professionally and personally. Following his departure as CEO, he will be  available to the Chairman of the Board of Directors as Senior Advisor until the end of  September 2023. 

Thomas Oetterli also proposed as member of the Board of Directors In the course of the intensive talks with Thomas Oetterli that led to his appointment  as CEO of Rieter, the Board of Directors came to the conclusion that, with his proven  strategic competencies, extensive industrial experience and international network of  contacts, he would also make important contributions to Rieter’s Board of Directors  and strengthen its overall profile. As Chairman of the Board of Directors of SFS, an  industrial company in Switzerland, he is also familiar with the international industrial  environment from the perspective of another globally active Swiss industrial  company.

In view of the current challenges Rieter is facing in the current economic and market  situation, which require close cooperation between the Board of Directors and the  Group Executive Committee, the Board of Directors considers a dual function of  Thomas Oetterli as CEO and member of the Board of Directors to be advantageous  and in the interest of all stakeholders. It will therefore propose Thomas Oetterli for  election as a member of the Board of Directors at the upcoming Annual General