Munich: Wacker Neuson Group’s CEO about to leave

The German based leading manufacturer of light and compact equipment has announced on May 2 that Cem Peksaglam, its Chief Executive Officer will not renew his contract which is to expire in August this year.

Cem Peksaglam, current CEO at Wacker Neuson Group has decided not to pursue in the company. He will leave the group at the end of his six-year contract, in August 2017.

Hans Neunteufel, Chairman of the Supervisory Board declared: “The Supervisory Board of the Wacker Neuson Group respects Mr. Peksaglam’s decision and thanks him for his dedication and service over the last six years. Mr. Peksaglam has played an important role in proactively shaping and driving forward the reorganization and strategic realignment of the Group during what has been a crucial restructuring phase for the company. His huge personal commitment has made the company a more professional organization and laid the foundation for further expansion. We wish Mr. Peksaglam all the best for his future career.”

The Wacker Neuson Group has shown an increase in its share value and market capitalization since September 2011 with particularly a reinforcement of its international reach. The company has notably undertaken the construction of a skid steer loader plant in the US, a generator plant in Brazil and an excavator production site to open soon in China.