Palfinger extends contracts in bid to double revenue

The four members of Palfinger Group's management board have had their contracts renewed until the end of 2018.

The resolution was passed by the company's supervisory board.
Herbert Ortner, chief executive officer, has been on the management board since 2003 and was appointed CEO in 2008. Christoph Kaml has acted as chief financial officer since 2009; Wolfgang Pilz has been chief marketing officer since 2003; and Martin Zehnder was appointed chief operating officer in 2008.

Alexander Doujak, chairman of the supervisory board, said the extended contracts followed a highly satisfactory period for Palfinger. "The management team is doing an excellent job and has successfully proved itself in implementing the group’s long-term strategy as well as in making the necessary adjustments in connection with the economic situation. At the same time, we still have to reach the strategic corporate goals that we have defined for 2017.”

The Palfinger Group aims to double its revenue to approximately €1.8 billion by 2017. “This is a very ambitious target that also requires good cooperation within the management board and with the supervisory board,” added Mr Doujak.

“Therefore, we attach great importance to giving the existing management team the chance to continue its successful work in support of the company’s stability. For this reason, the supervisory board has decided to renew the contracts of the members of the management board as of now,” concluded Mr Doujak.