KSB’s administrative board has extended CEO Dr Stephan Timmermann's contract by a further three years.
The extension, which came earlier than planned, means Dr Timmermann is now appointed CEO of the German pump and valve manfacturer until 30 November 2023.
The contracts of KSB chief financial officer Dr Matthias Schmitz and chief sales officer Ralf Kannefass have also been extended by three years. They are now appointed until 31 May 2023 and 30 June 2023 respectively.
Chief technology officer Dr Stephan Bross’s contract runs until 14 September 2022.
KSB says that by extending the contracts, the administrative board is sending out a clear signal for the continuing development of the company.
“All four managing directors have played a major role in the further development of the Group. Together with their teams, they can now concentrate on successfully implementing the measures that have been introduced,” said Oswald Bubel, chair of the KSB administrative board.