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2 clusters · 3 sources · 22 days · First seen · Last updated

Wienerberger leadership transition and financial outlook

Overview

Wienerberger is navigating a period of leadership transition and financial pressure following the sudden resignation of CEO Heimo Scheuch in early August due to health reasons. After leading the company for over 17 years, Scheuch was succeeded by Gerhard Hanke, the former COO for Central and Eastern Europe, who is serving as interim CEO while a permanent replacement is sought.

The leadership change has occurred alongside significant economic and market challenges. The company reported a decline in operating EBITDA margin and has lowered its full-year operating EBITDA guidance from over 800 million euros to approximately 700 million euros, citing weak residential construction in markets such as the USA, Canada, and Great Britain.

Additionally, the company has faced downward pressure on its stock price, which has traded near its 52-week low. During this period, US asset manager Fidelity also reduced its stake in the building materials group, lowering its voting interest to 5.95 percent.

Entities

Gerhard Hanke · Heimo Scheuch · Wienerberger · Fidelity Management & Research Company

Timeline

  1. about 18 hours ago

    [BUSINESS] 3 sources
    Wienerberger CEO Heimo Scheuch resigns amid stock pressure

    Wienerberger faces leadership uncertainty and stock pressure following CEO Heimo Scheuch's resignation and a stake reduction by US asset manager Fidelity.

  2. 23 days ago

    [BUSINESS] 2 sources
    Wienerberger appoints interim CEO amid lowered profit guidance

    Wienerberger has appointed Gerhard Hanke as interim CEO following Heimo Scheuch's resignation. The company also lowered its annual EBITDA guidance due to weak construction demand in the US, Canada, and UK.

Sources

ad-hoc-news.de · it-boltwise.de · top-news.at