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CEO steps down from Bilfinger Executive Board for personal Reasons

  • Mutual agreement between Supervisory Board and Per H. Utnegaard – Utnegaard steps down as Chairman and member of the Executive Board for personal reasons with effect from April 30, 2016
  • Supervisory Board already in talks - successor to be announced shortly
  • CFO Axel Salzmann named also interim CEO
  • Outlook for financial year 2016 confirmed

The Supervisory Board of Bilfinger SE and Chairman of the Executive Board Per H. Utnegaard (56) have mutually agreed that Per H. Utnegaard will resign as Chairman and member of the Executive Board with effect from April 30, 2016. This step is being taken for personal reasons. The Supervisory Board would like to thank Mr. Utnegaard for his services at Bilfinger.

“Per Utnegaard led the Group in a challenging phase. Together with the Executive Board team, Bilfinger was realigned with a strategy focusing on its core business. This strategic course will be continued and Bilfinger will be put back on a path of profitable growth,” says Eckhard Cordes, Chairman of the Supervisory Board.

The Supervisory Board is already holding talks with potential successors. The aim is to announce the appointment of a new Chairman of the Executive Board for Bilfinger shortly.

Chief Financial Officer Axel Salzmann (57) will assume the role of CEO on an interim basis in addition to his current functions.

The outlook for financial year 2016 issued by Bilfinger on March 16 has now been confirmed. In financial year 2015, Bilfinger met or surpassed expectations communicated by the Group for all financial key figures. Liquidity has improved, the efficiency of structures was enhanced and complexity was reduced.

Source: Bilfinger

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