“I have intensely used the last few weeks to get to know GEA, our technologies and our markets and to talk with a broad range of customers and employees around the world,” Stefan Klebert said. “In the process, I have seen just how well positioned GEA is for the future in many industries. But we still have a lot of work to do: We will closely analyze the areas responsible for our lower earnings and take steps to improve the situation. We also have to prepare for a cooling investment climate. Together with the management team, we will carefully evaluate our fundamental position and our internal processes. We have improvement potential in such areas as IT, purchasing and internal responsibilities. My firm goal is to win back the confidence of capital markets by taking systematic action and by creating transparency. I am looking forward to tackling these challenges together with the GEA team.”
GEA will announce an initial package of immediate measures during its financial press conference on March 14, 2019. An in-depth strategy update that will include designated CFO Marcus A. Ketter will follow.