Hans M. Schabert hands over Chairmanship of the Executive Board of Vossloh to Andreas Busemann

After three years of successful and comprehensive repositioning of the Vossloh Group, Dr.h.c. Hans M. Schabert is handing over Chairmanship of the Executive Board of Vossloh AG to Andreas Busemann, who as a proven rail technology expert was appointed CEO with effect from April 1, 2017. Busemann was most recently employed as Member of the Management Board for Sales and Marketing of DB Cargo AG.

During his term of office, Schabert together with his Executive Board colleagues and in close cooperation with the Chairman of the supervisory board and the main shareholder Heinz Hermann Thiele transformed Vossloh into an integrated rail infrastructure company that presents itself cross-functionally, with a strong focus on customers and under one brand. From 2014, he consistently guided the Group through the necessary restructuring. Under his management, comprehensive measures for cost reduction and efficiency enhancement were introduced and the financial basis of the Group was significantly strengthened. Two of the three business units of the Transportation division, which is no longer part of the core business, were sold during his time in office. Groundwork for the still outstanding sale of Vossloh Locomotives was laid. With full order books and equipped with Europe’s most modern locomotives plant, Vossloh Locomotives is attractive and sustainable once more. An important milestone for the development of Vossloh was reached with the concluded takeover of Rocla Concrete Tie, North America’s leading manufacturer of concrete ties. The acquisition strengthens the core business in the focus market USA and represents a strategic expansion of Vossloh’s product and service portfolio.

Dr.h.c. Hans M. Schabert announced at the beginning of 2016 that he would not extend his Executive Board contract beyond the original term of three years for family reasons.

Heinz Hermann Thiele, Chairman of the Supervisory Board of Vossloh AG: “After taking office in spring 2014, Hans Schabert together with his colleagues on the Executive Board and the senior management implemented the restructuring and repositioning of the Vossloh Group in a short time, consistently and with great care. Today Vossloh as a company is focused on its core competence, rail infrastructure, with a distinctive profile and good prospects for the future. On behalf of the entire Supervisory Board, I would like to thank Mr. Schabert for his extraordinary personal commitment and great success at Vossloh in the last three years. We are delighted to have found Andreas Busemann as a successor, who has proven expertise and long-standing experience in the rail industry and will continue to drive forward Vossloh’s profitable growth.”

03/30/2017

Hans M. Schabert hands over Chairmanship of the Executive Board of Vossloh to Andreas Busemann