ARVOS Group announces realignment and leadership change
15-Jan-2015 Back to overview
Heidelberg, Germany. ARVOS Group realigns its business across markets and products. The operational management will be carried out at a divisional level. The Group Holding in Heidelberg, Germany, will primarily focus on financial functions and will be led by the Group CFO. The Division heads and the Group CFO will report directly to the ARVOS Group Board of Directors, CEO Thorsten Holl steps down and moves to the Board.
After a successful change in ownership and rebranding process the board has announced today a further step to realign the ARVOS Group through a new organizational and management structure across product lines. The operational leadership will now take place at a division level: the LJUNGSTRÖM Division, headquartered in Wellsville (USA) will be led by David Breckinridge and Karsten Stückrath will be responsible for the SCHMIDTSCHE SCHACK Division, headquartered in Kassel. RAYMOND BARTLETT SNOW Division will be assigned to LJUNGSTRÖM Division, but will continue to operate independently in the market. ARVOS Group will be the financial umbrella for the divisions with the overarching responsibility for financial reporting and controlling as well as financing the whole group. As the former Group CEO, Thorsten Holl will step down after the successful implementation of the ownership change as well as realignment and moves to the board. Under the leadership of Group CFO Ludger Heuberg the Group ARVOS Holding will primarily focus on financial functions. The Group CFO and the two division heads will report directly to the Board.
"We are now able after a very short time to present the new ARVOS Group structure. I would like to thank Thorsten Holl and his team for implementing the ownership change, successfully rebranding ARVOS Group while maintaining the strong division brands and having taken all necessary steps to realign the ARVOS Group. Thorsten Holl has made great contributions to our company. Today the division heads will be handed over the business responsibilities, and Thorsten Holl will shift to supporting the board", said Udo Stark, Chairman of the Board of the ARVOS Group. Thorsten Holl, the former Group CEO added: "I transfer the full strategic and business responsibility to my colleagues in the independent divisions. We have worked for a long period of time to realign ARVOS Group across markets and products and I am convinced that our customers value this step forward. I wish David Breckinridge and Karsten Stückrath all the best and thank the board for their trust and the opportunity to have successfully executed the carve-out as CEO."
About ARVOS Group
ARVOS Group (formerly Alstom Steam Auxiliary Components business) is a leading global industrial equipment provider. The group is active in both the new equipment market and aftermarket service across the three divisions: LJUNGSTRÖM through Air Preheaters and Gas-Gas Heaters for thermal power generation facilities; SCHMIDTSCHE SCHACK through process critical heat transfer applications in a wide range of petrochemical, chemical and metallurgical processes and RAYMOND BARTLETT SNOW through Thermal and Pulverizing Processing Equipment and Systems for wide variety of industrial applications. Relocating its Headquarters from Mannheim to Heidelberg, Germany, over the course of the transition, ARVOS Group operates eight manufacturing facilities and additional sales and execution offices in Brazil, China, Czech Republic, Germany, India, Japan, Switzerland and the USA. The ARVOS Group brands Ljungström®, Schmidt’sche®, Schack®, Raymond® and Bartlett-Snow™ are highly recognized for their outstanding quality and performance. ARVOS Group achieved revenues of over € 400 m in FY 2013 and employs more than 1,700 employees.
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