Renk CEO Susanne Wiegand Steps Down After Transformative Tenure
Wiegand cites personal reasons for her departure, with Alexander Sagel named as her successor starting February 2025.
Overview
- Susanne Wiegand, CEO of Augsburg-based defense supplier Renk, will leave her position on January 31, 2025, citing personal reasons.
- During her tenure, Wiegand successfully led Renk back to the stock market in February 2024 and oversaw record-breaking financial performance, including a €1.3 billion order intake in 2023.
- Alexander Sagel, currently Renk's COO and a former Rheinmetall executive, has been appointed as the new CEO, effective February 1, 2025.
- Wiegand's leadership saw significant international expansion and productivity improvements, with the company's revenue doubling and operating profit quadrupling under her guidance.
- Renk remains a key player in the defense industry, producing critical components like tank gearboxes, with ongoing growth attributed to global geopolitical tensions.