As announced earlier, Mr. Norbert Klapper takes over on January 1 as the Chief Executive Officer of the Rieter Group. At the same time, Mr. Erwin Stoller relinquishes his dual position as Executive Chairman since 2009, but remains Chairman of the Board.
After graduating in mechanical engineering and receiving his Ph.D. in economics, Mr. Klapper accumulated widely-based international 
experience in the machinery and plant engineering industry, particularly in the markets important to Rieter. His previous position was Executive Vice President, Voith Turbo, Heidenheim, Germany.
Mr. Peter Gnägi will relinquish on his own the current position as Head of the Business Group Spun Yarn Systems at the end of 2013 and step down accordingly from the Rieter Executive Committee. At the request of Mr. Norbert Klapper he will provide support during 2014 in connection with strategically important projects.
Mr. Peter Gnägi, who graduated in mechanical engineering at the Swiss Federal Institute of Technology in Zurich joined Rieter in 1990, was appointed to the Executive Committee in 2002, and has been in his current position since 2011.
The Board of Directors thanks Mr. Peter Gnägi for his outstanding contribution to the further development of Rieter’s textile machinery and component business. The Board looks forward to working with Mr. Norbert Klapper, and wishes him every success in his new position.