Renk Group, the renowned German defense company, announced on Sunday that it has appointed Alexander Sagel, currently a member of the executive board, as its new CEO, effective February 1, 2025. Sagel, who also serves as the company’s Chief Operating Officer (COO), will take over the leadership from Susanne Wiegand.
Wiegand, the current CEO, will step down by the end of January for personal reasons, as confirmed in the company’s official statement.
Earlier this month, Renk Group reported third-quarter revenue that surpassed expectations, driven by increased demand in the vehicle mobility segment, particularly for tank equipment. The company’s solid financial performance underscores its strong position in the defense sector, with the new leadership poised to continue steering Renk towards innovation and growth.