Lars Brorsen hands over the position of Chief Executive Officer to Joachim Duerr effective October 1, 2019

Lars Brorsen steps down from his position as Chief Executive Officer effective September 30th , 2019. Since the end of 1999 he has been the face of JOST Werke. Under his leadership, the German company has developed into an internationally recognized group. Global sales have more than quadrupled during this period and the number of employees has more than doubled. He has expanded and enhanced JOST's product portfolio with strong brands such as TRIDEC, ROCKINGER, Edbro and most recently the JOST Axle Systems. Under his leadership, JOST Werke AG was listed on the Frankfurt Stock Exchange in 2017 and made the leap into the SDAX index soon after.

At almost 68 years of age, the successful manager is now starting a new chapter in his life. With gratitude but also with some wistfulness Lars Brorsen hands over the baton of Chairman of the Executive Board to his fellow Board member Joachim Duerr as of October 1, 2019. “We have prepared this step with calm and prudence. With Joachim Duerr, we have been able to win a competent successor who will keep the spirit of the company alive and will continue JOST’s success story. It has been a great honor for me to have served JOST over the past decades,” said Lars Brorsen.

Joachim Duerr was appointed Chief Sales Officer (CSO) of the JOST Werke Group as of January 1, 2019. The graduate mechanical engineer has many years of international sales, product and leadership experience in the commercial vehicle industry. As of October 1, 2019, he will assume the function of Chief Executive Officer of JOST Werke AG. Simultaneously, the company's Executive Board will be reduced again to three members. In accordance with the term of his Executive Board contract, Mr. Brorsen will continue to assist JOST on an advisory basis until December 31, 2019.

The Chairman of the Supervisory Board, Manfred Wennemer, said: “The Supervisory Board thanks Lars Brorsen for his outstanding work over the past 20 years. We and JOST owe him a great deal. We wish him all the best for the coming years. With Joachim Duerr, we were able to recruit a very experienced manager at the beginning of 2019, with whom JOST will be very successful in the future.”

After the announcement, CSO Joachim Duerr said: “JOST and its employees worldwide stand for absolute customer orientation, today and in the future. The commercial vehicle industry will continue to grow in the medium term and in the process undergo major changes – this offers a wide range of opportunities for JOST. I am delighted to develop the company on this basis, generating sustainable and long-term value for our customers, employees and shareholders.”