On 3 August 2016, the Supervisory Board of BayWa AG, Munich, unanimously voted to appoint Klaus Josef Lutz (58) as Chairman of the Management Board for an additional term of office until 2022. This decision extends Lutz’ existing contract, which terminates on 30 June 2017.
“With this decision, the Supervisory Board places its unreserved trust in Mr Lutz and sets a clear signal for the strategic course of international growth he has embarked on,” explained Chairman of the Supervisory Board Manfred Nüssel. At the same time, according to the president of Deutsche Raiffeisenverband e.V., extending the contract this year ensures the necessary continuity in the management of the company.
Klaus Josef Lutz joined the company as Chief Executive Officer in 2008. Lutz’ strategy has further strengthened the traditional agriculture segment at BayWa.
Klaus Josef Lutz was the key driver in establishing the Renewable Energies business unit, which has been characterised by an international focus from the start.
The CEO directed BayWa towards areas of growth and worked to streamline the portfolio by selling non-strategic holdings and businesses such as the DIY and garden centres business. The international agriculture and renewable energies activities now contribute more than 55 percent to the operative EBIT of BayWa. The dividend payment per share has risen continuously from €0.40 in 2008 to €0.85 in 2015.
For the future, the CEO views the digitalisation of the company in conjunction with targeted growth in the international agricultural and renewable energies businesses as the key focus. “As a trading company, we will position ourselves clearly for a digital future and want to assume a leading role in digital farming in Europe in particular,” said Klaus Josef Lutz.
For more information:
Marion Danneboom
BayWa
Head of PR/Corporate Communications
Tel: +49 (0)89/9222-3680
Fax: +49 (0)89/9222-3698