The Voith Shareholders' Committee has appointed Egon Krätschmer as new Member of the Corporate Board of Management Finance and Controlling effective May 1. He succeeds Dr. Toralf Haag, who had held this position since November 2018 in addition to his role as President & CEO of Voith.

"With Egon Krätschmer, we have chosen one of the company's most experienced financial managers for this key position," said Prof. Dr.-Ing. Siegfried Russwurm, Chairman of the Supervisory Board and Shareholders' Committee.

After studying business administration at the Baden-Württemberg Cooperative State University in Heidenheim, Krätschmer joined the company in 1976 and most recently served as Chief Financial Officer on the Global Board of Voith Paper.

Since 1980, he has held management positions in finance and accounting at various Voith companies. Egon Krätschmer was a member of the Board of Voith Paper Heidenheim from 2000 and Voith Siemens Kraftwerkstechnik Heidenheim from 2003. In 2005, he was appointed Chief Financial Officer with worldwide responsibility for Voith Siemens Hydro, until in 2009 he took over as Head of Corporate Controlling, Accounting and Investments at Voith.

"On behalf of my colleagues, too, I am pleased to welcome Egon Krätschmer as a new member of the Corporate Board of Management. We look forward to working with him and wish him continued success in his new function," said Dr. Toralf Haag, Chairman of the Group Management Board.

About the Voith Group

The Voith Group is a global technology company. With its broad portfolio of systems, products, services and digital applications, Voith sets standards in the markets of energy, oil & gas, paper, raw materials and transport & automotive. Founded in 1867, the company today has more than 19,000 employees, sales of $5 billion and locations in over 60 countries worldwide and is thus one of the largest family-owned companies in Europe.