Wacker Neuson CEO Cem Peksaglam informed the supervisory board that he does not intend to renew his contract and intends to leave the company to pursue new endeavors. Peksaglam’s six-year deal will expire in August. Wacker Neuson said Peksaglam successfully realigned the group’s strategy.
The Wacker Neuson Group has experienced strong growth in recent years, expanding its international reach during the period by building a number of new facilities, including a skid-steer loader plant in the United States, a generator plant in Brazil and an excavator production facility that will soon be opened in China. Also, the Group has established affiliates in numerous different markets. Wacker Neuson’s share value and market capitalization have more than doubled since September 2011.
“The Supervisory Board of the Wacker Neuson Group respects Mr. Peksaglam’s decision and thanks him for his dedication and service over the last six years,” said Hans Neunteufel, chairman of the supervisory board. “Mr. Peksaglam has played an important role in proactively shaping and driving forward the reorganization and strategic realignment of the Group during what has been a crucial restructuring phase for the company. His huge personal commitment has made the company a more professional organization and laid the foundation for further expansion.”
Peksaglam was responsible for strategy, mergers and acquisitions, human resources, legal, compliance, real estate, investor relations, corporate communication and sustainability. He also was responsible for sales, service, logistics, and marketing activities of the Wacker Neuson Group for several years until the board was extended by the position of chief sales officer.
The company will announce Peksaglam’s successor at some point in the future.
Wacker Neuson is based in Munich with U.S. headquarters in Menomonee Falls, Wis.
About the Author
Michael Roth
Editor
Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.