Dr. Toralf Haag, President and Chief Executive Officer of the Voith Group, is not seeking to extend his contract with Voith and will leave the company on September 30, 2024.

"Dr. Toralf Haag has successfully developed the Group in challenging times with a clear focus on industrial sustainability. Under his leadership, cash flow, profitability and business volume increased significantly. During his time as CEO, annual sales grew from 4 billion euros to 5.5 billion euros today. At the same time, electrification and digitalization became important elements of the Voith portfolio. On behalf of the family and all Voith employees, the Shareholders' Committee and the Supervisory Board would like to thank Mr. Haag most sincerely for his services to our company, says Prof. Siegfried Russwurm, Chairman of the Shareholders' Committee and the Supervisory Board of Voith.

"It has been a pleasure and an honor to lead Voith as President and CEO. Together with my colleagues on the Board of Management and our great employees around the world, we have achieved a lot. I am very grateful for the eight years at Voith and am now looking forward to new challenges."

The Voith Shareholders' Committee will decide on Toralf Haag's successor in due course.