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EQS-News: Stabilus SE
/ Key word(s): Personnel
CORPORATE NEWS
Stabilus expands its Management Board to a total of three members as part of its growth strategy: CTO David Sabet will join the Management Board and be responsible for the Americas region
Koblenz, September 23, 2024 – The Supervisory Board of Stabilus SE, (WKN: STAB1L, ISIN: DE000STAB1L8), one of the world's leading suppliers of motion control solutions for a wide range of industries, has appointed David Sabet (51) to the Management Board of Stabilus SE with effect from October 1, 2024. The Supervisory Board is thus taking into account the importance of the Americas region and particularly of innovations in the corporate strategy STAR 2030, with which the company plans to realize a significant part of the targeted sales growth through innovations and to increase Group revenue to more than €2 billion until 2030.
Dr. Stephan Kessel, Chairman of the Supervisory Board of Stabilus, said: "The growth and acquisition of Destaco has made it necessary to expand the Stabilus Management Board. With more than 20 years of experience in management positions at Stabilus in the USA and Germany, David Sabet is the ideal choice to take over responsibility for the Americas region and the intensive technology development on the board. He has driven the growth of Powerise at Stabilus and has excellent product knowledge and experience in dealing with vehicle manufacturers. I look forward to working with him and, on behalf of the entire Supervisory Board, I wish David Sabet every success in his new role.”
Dr. Michael Büchsner, CEO of Stabilus, added: "Stabilus has grown strongly over the past few years and expanded its product portfolio in automation technology. Further growth with innovative technical solutions such as door actuators remains central element of our long-term strategy. I am pleased to welcome David Sabet to the Management Board with his strong focus on technology and his many years of experience at Stabilus."
David Sabet, designated management board member of Stabilus, said: "The Americas region is a central pillar of our STAR 2030 growth strategy and is now of similar importance as the EMEA region in terms of revenue. Due to my many years of experience as CTO and in the Americas, I am very familiar with the market and our customers. I will contribute my knowledge and experience at the Management Board level in the best interest of customers, the company and employees alike and look forward to working with my colleagues on the Management Board, Dr. Michael Büchsner and Stefan Bauerreis."
David Sabet started his career at Stabilus in 1996 as an engineer and held management positions in Application Engineering in the Stabilus Group from 2004 to 2014. Since 2014, he has been Head of Business Unit Automotive Powerise, and since 2015 he has also been Chief Technology Officer in the extended management circle of Stabilus. He holds a bachelor’s degree in mechanical engineering from Pennsylvania State University.
Therefore, the Management Board will consist of a total of three members as of the 2025 fiscal year, which begins on October 1: CEO Dr. Michael Büchsner, CFO Stefan Bauerreis and CTO David Sabet.
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About Stabilus Stabilus is one of the world's leading providers of motion control solutions across a broad spectrum of industries including mobility, industrial machinery, automation, energy, construction, health, recreation and furniture. Stabilus offers reliable and innovative solutions that enable, enhance and automate precise movement, positioning, opening, closing, lifting, lowering and adjusting actions. With its operational headquarters in Koblenz, Germany, the Stabilus Group has a global production and sales network with more than eight thousand employees and reported revenue of €1.2 billion in the 2023 fiscal year. Stabilus SE is listed in the Prime Standard segment of the Frankfurt Stock Exchange and is included in the MDAX index. Further information is available at and .
Important Notice This press release may contain certain forward-looking statements based on current assumptions and forecasts made by Stabilus Group management and other information currently available. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here.
23.09.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
| Language: | English |
| Company: | Stabilus SE |
| Wallersheimer Weg 100 | |
| 56070 Koblenz | |
| Germany | |
| Phone: | |
| E-mail: | |
| Internet: | group.stabilus.com |
| ISIN: | DE000STAB1L8 |
| WKN: | STAB1L |
| Indices: | MDAX |
| Listed: | Regulated Market in Frankfurt; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1992765 |
| End of News | EQS News Service |
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1992765 23.09.2024 CET/CEST
