Rehau Group reorganizes automotive, industrial units; supervisory board members change roles
The automotive business now becomes an independent company while the industrial business forms a new umbrella for other Rehau divisions.
In a move aimed at giving more independence to the business units, Germany-based plastics business Rehau Group has reorganized Rehau Automotive and Rehau Industries into separate companies within the Group, dividing the company currently known as Rehau AG + Co.
And the supervisory board of the family-owned company also will change on July 1 – Jobst Wagner will hand over the president role to his brother Veit Wagner, then take on his brother’s position as vice president.
In a June 17 news release, Rehau said the Automotive Division and the other divisions “differ significantly from each other in terms of business model, customer structure and internal organization.” The previous Automotive division will therefore become an independent company under the name Rheau Automotive. “The new business unit will be given more autonomy to become more agile and competitive, with more room for maneuver and decision-making, but still under the strong umbrella of the Rehau Group,” it said.
Rehau also said that the new company Rehau Industries will form the “common umbrella” for the other divisions of Rehau: Building Solutions, Window Solutions, Furniture Solutions, and Industrial Solutions. It will also house the cross-divisional services units. “Both new companies will be optimally positioned for customer-focused competition and profitable growth,” it said.
Rehau Industries will continue to be led by CEO William Christensen.
The company’s auto executives will remain in place with CEO Markus Distelhoff, Chief
Operations Officer Michael Colberg, and Chief Financial Officer Stefan Ficht, but they will report to their own automotive supervisory board, which will include Christensen and Martin Zwyssig, CFO of the Rehau Group.
Jürgen Otto, CEO of Brose for many years, will complete the board as an external representative.
“Over the past over 20 years, my brother and I have steadily developed the Rehau Group and consistently set the course for a strong, globally active group of companies,” Jobst Wagner said in a June 17 news release. “At the core has always been our unmistakable culture, which has, from the very beginning, distinguished us as an independent family business that prioritizes innovation, entrepreneurial freedom and customer proximity. Above all, however, our focus is on our employees, with whom we are continuing this successful path.”
The transition to the new structure is expected to be completed in the first half of 2022, but the new management bodies will start their work on July 1, 2021. For Rehau employees, the news release said, all employment contracts, contract contents, and creditable seniority will remain unchanged.