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    KBX   DE000KBX1006

KNORR-BREMSE AG

(KBX)
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Knorr-Bremse Aktiengesellschaft: Dr. Peter Laier to leave Knorr-Bremse at the end of December 2021

10/15/2021 | 02:47am EST

DGAP-News: Knorr-Bremse Aktiengesellschaft / Key word(s): Personnel
Knorr-Bremse Aktiengesellschaft: Dr. Peter Laier to leave Knorr-Bremse at the end of December 2021

15.10.2021 / 08:45
The issuer is solely responsible for the content of this announcement.


Press release
Munich, October 15, 2021

Dr. Peter Laier to leave Knorr-Bremse at the end of December 2021

Munich, October 15, 2021 - Dr. Peter Laier, member of the Executive Board of Knorr-Bremse AG and globally responsible for the Commercial Vehicle Systems division (CVS), is to resign from the Executive Board at his own request with effect from December 31, 2021, in order to pursue new professional perspectives. The division will be managed on an interim basis by the CEO Dr. Jan Mrosik from January 1, 2022.

"The Supervisory Board regrets Dr. Laier's decision to leave the company prematurely. With his departure we are losing a proven expert of the CVS industry and with strong implementation skills", said Prof. Dr. Klaus Mangold, Chairman of the Supervisory Board of Knorr-Bremse AG. "We would like to thank Dr. Laier for his great commitment. He has made an important contribution to growth and technologic and strategic development of the CVS division. In addition to siginificant global sales growth of the division his achievements are the innovative alignment of the product portfolio as well as the development of the global steering business and, last but not least, the proactive and economically successful management of the CVS division through the Covid-19 pandemic. We wish him every success as he takes his career forward."

Dr. Peter Laier was appointed to the Executive Board of Knorr-Bremse AG on January 1, 2016 with the responsibility for the global Commercial Vehicle Systems division (CVS). As member of the Executive Board, Dr. Laier also successfully supported the IPO of Knorr-Bremse AG in October 2018. The Supervisory Board of Knorr-Bremse AG has initiated the search for a successor.


About Knorr-Bremse
Knorr-Bremse (ISIN: DE000KBX1006, ticker symbol: KBX)
is the global market leader for braking systems and a leading supplier of other safety-critical rail and commercial vehicle systems. Knorr-Bremse's products make a decisive contribution to greater safety and energy efficiency on rail tracks and roads around the world. Some 29,500 expert, dedicated employees at over 100 sites in more than 30 countries deliver products and services to satisfied customers worldwide. In 2020, Knorr-Bremse's two divisions together generated revenues of EUR 6.2 billion. For 115 years, the Company has been at the cutting edge of its industries, driving innovation in mobility and transportation technologies with a leading edge in connected system solutions. Knorr-Bremse is one of Germany's most successful industrial companies and profits from the key global megatrends: urbanization, sustainability, digitalization, and mobility.

Contact Media Relations:
Alexandra Bufe, phone +49 89 3547 1402, alexandra.bufe@knorr-bremse.com

Contact Investor Relations:
Andreas Spitzauer, phone +49 89 3547 182310, andreas.spitzauer@knorr-bremse.com



15.10.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


Language: English
Company: Knorr-Bremse Aktiengesellschaft
Moosacher Str. 80
80809 Munich
Germany
Phone: +49 89 3547 0
E-mail: info@knorr-bremse.com
Internet: www.knorr-bremse.com
ISIN: DE000KBX1006
WKN: KBX100
Indices: MDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; Vienna Stock Exchange (Third Market (MTF))
EQS News ID: 1241008

 
End of News DGAP News Service

1241008  15.10.2021 

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Sales 2021 6 696 M 7 588 M 7 588 M
Net income 2021 588 M 666 M 666 M
Net Debt 2021 381 M 432 M 432 M
P/E ratio 2021 24,3x
Yield 2021 1,93%
Capitalization 14 147 M 15 946 M 16 031 M
EV / Sales 2021 2,17x
EV / Sales 2022 2,00x
Nbr of Employees 30 612
Free-Float 41,0%
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Mean consensus HOLD
Number of Analysts 14
Last Close Price 87,76 €
Average target price 101,86 €
Spread / Average Target 16,1%
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Managers and Directors
Jan Michael Mrosik Chairman-Executive Board
Frank Markus Weber Chief Financial Officer
Klaus J. Mangold Chairman-Supervisory Board
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