With effect as of August 31, 2015, Ralph Heuwing is stepping down as planned from Homag Group AG's management board, on which he has served as CEO since December 2014. Pekka Paasivaara, who had served as joint-CEO together with Heuwing since June 15, 2015, is thus taking over as sole CEO of Homag Group AG with effect as of September 1, 2015.

Machinery

Pekka Paasivaara takes over as sole CEO of Homag Group AG

Sep 03, 2015. /Lesprom Network/. With effect as of August 31, 2015, Ralph Heuwing is stepping down as planned from Homag Group AG's management board, on which he has served as CEO since December 2014. Pekka Paasivaara, who had served as joint-CEO together with Heuwing since June 15, 2015, is thus taking over as sole CEO of Homag Group AG with effect as of September 1, 2015.

Going forward, Ralph Heuwing will resharpen his focus on his role as CFO of Dürr AG. In addition, he will join the supervisory board of Homag Group AG and take over its chairmanship from Ralf W. Dieter, CEO of Dürr AG. Ralf W. Dieter will, however, remain on the Homag Group's supervisory board.

Ralph Heuwing said: “The Homag Group is on a favorable course having completed the process of integration into the Dürr Group. It is therefore a good time to hand over the helm to Pekka Paasivaara. He will drive forward the company's realignment under the ONE Homag guiding principle with full power and put it on a sustainable footing. As an active chairman of the supervisory board, I will continue to personally and closely accompany the Homag Group's development.”

Homag Group AG is the world’s leading manufacturer of plant and machinery for the woodworking industry and cabinet makers.