ERLANGEN, Germany — Rehau Automotive and Rehau Industries are now separate companies within Rehau Group following a reorganization to give more independence to the business units.
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.
The plan to divide the Erlangen-based company currently known as Rehau AG + Co. was adopted because the divisions differ significantly in terms of business model, customer service and internal organization, according to a Rehau news release.
"As a modern family business, we rely on change to lead the group into a sustainably successful future. In particular, we want to make our divisions even more targeted and powerful," Veit Wagner said.
Rehau Automotive will be given more autonomy for making decisions with goal of it becoming more agile and competitive while still under the umbrella of the Rehau Group.
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 William Christensen, CEO of Rehau's current group executive board, and Martin Zwyssig, CFO of the Rehau Group.
Jürgen Otto, CEO of Brose for many years, will complete the board as an external representative.
"We are pleased that with Jürgen Otto we have been able to win over a proven expert and accomplished manager from the automotive industry to support the further expansion of our automotive business," Veit Wagner said.
Rehau Industries will form a new umbrella for other divisions, which includes Building Solutions, Window Solutions, Furniture Solutions and Industrial Solutions. It will also house the cross-divisional services units.
The two new companies along with Raumedic, Meraxis and Rehau New Ventures now make up the pillars of Rehau Group.
At the same time, Jobst Wagner will exchange roles with his brother after more than two decades at the helm of the Rehau supervisory board.
"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. "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 new managers start their work on July 1 but the transition to the new structure isn't expected to be completed until the first half of 2022.
For Rehau employees, the release says all employment contracts, contract contents and creditable seniority will remain unchanged.