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Knorr-Bremse AG: The Captain leaves the Ship

On April 30th, 2019, Knorr-Bremse AG informed that its CEO Klaus Deller left the company as of the same day by mutual agreement. According to the ad hoc release, the supervisory board has already initiated the search for a successor.

According to the release, the supervisory board fully supports the successful strategy of Knorr-Bremse AG and current business is fully in line with expectations. Mr. Deller's departure is said to be due to different views regarding leadership and cooperation.

Leoni AG: Part II, Resignation of the CFO

Immediately preceding the news release regarding the restructuring program, Leoni informed via an ad hoc announcement that its CFO, Karl Gadesmann, resigned as a member of the Board of Directors immediate effect.

The CEO, Aldo Kamper, will take over his responsibilities until a new appointment is made.

Somehow one wonders why the company made two announcements.