Michael Baur to support transformation of BENTELER Group as new Chief Restructuring Officer with focus on operational implementation
Salzburg, February 11, 2021. Michael Baur has been appointed as Chief Restructuring Officer (CRO) of the BENTELER Group with effect from February 11, 2021. The experienced manager will strengthen the Executive Board of BENTELER International AG as its third member and will support the operational implementation of the restructuring process.
Dr. Arno Haselhorst, who previously held the position of CRO, will leave the company. The experienced restructuring manager was appointed to the Executive Board of the BENTELER Group as CRO in June 2020. Since this time, he has successfully stabilized the confidence of more than 100 financing partners and important customers in the future of the company.
Dr. Arno Haselhorst says: "Following the successful agreement on the refinancing with a term through the end of 2024 and the further development of the financing concept, the foundation has been laid for the future viability of the BENTELER Group. I would like to thank everyone who made a significant contribution in the exceptionally difficult Coronavirus year, especially the financing partners." Following the successful refinancing, Dr. Arno Haselhorst now hands over to the new CRO Michael Baur.
Michael Baur, Managing Partner of the consulting firm AlixPartners, is an experienced management consultant and manager specializing in financial and operational reorganizations and transformations. He has led numerous restructuring and performance improvement projects for mid-sized companies and large corporations. AlixPartners has many offices around the world and is therefore ideally positioned to support the upcoming measures internationally.
Next phase heralded: focus on operational implementation
During the next phase of the transformation, the focus will be on the operational implementation of the restructuring measures already in place. These primarily include initiatives to improve earnings, a focused product range and targeted investments in growth areas and core markets.
Ralf Göttel, CEO of the BENTELER Group: “We would like to thank Dr. Arno Haselhorst for his very good support over the past year. His extensive experience was an important factor in the coordination with the financing partners and contributed significantly to the securing of the refinancing until 2024 at the end of the year.”
Ralf Göttel continues: “Despite the difficult market situation and pandemic-related downturns last year, we proved ourselves to be a strong, system-relevant partner to the international automotive industry. This encourages us to consistently continue on the path of transformation. We are delighted to have Michael Baur on board. He is an extremely experienced restructuring expert who will support us in the next phase of the transformation. The main task now will be to support the previously initiated restructuring measures internationally and implement them consistently.”
Leading BENTELER strengthened into the future
Ralf Göttel emphasizes: “Our clear goal is to lead our company into the future in a strengthened position. We must continue to respond to market developments in the various regions in order to secure the future of the company in these challenging times. In doing so, we will adjust capacities in some areas to meet changing demand, while selectively expanding growth areas. I would like to take this opportunity to expressly thank our employees once again for their support, also during this special time.”
About the BENTELER Group’s transformation program
The BENTELER Group initiated a comprehensive transformation process at the end of 2018. In 2020, the restructuring was further intensified and accelerated. The successful signing of the refinancing agreement with the financing partners and shareholders was an important success at the end of the year and sent a clear signal that the restructuring program is taking effect. The company's financing is secured until the end of 2024. KfW loans were not taken up. The company has proven itself to be a strong, system-relevant partner for the international automotive industry despite difficult market conditions and pandemic-related downturns.