Wolfgang Pöschl is the new chairman of the management board of Michael Weinig AG.

Pöschl had been a member of the management board and was responsible for the implementation of the new corporate strategy within the Weinig Group. With this strategy, the processes within the enterprise shall be improved and the costs reduced, according to the company.

Pöschl will continue to be responsible in the management board for the business segments of molding machines and window processing machines as well as for the production sites in Tauberbischofsheim and Yantai/China.

"We are pleased that with Mr. Pöschl we found a chairman of the management board who can prove experience in mechanical engineering over many years and during the short time of his affiliation in the Weinig AG he obtained high appreciation in the entire enterprise. By the nomination of Mr. Pöschl, the continuity of the strategic orientation of Weinig is particularly safeguarded. With the implementation of this strategy, Mr. Pöschl will lead the Weinig Group into a new phase of the sustainable growth," said Thomas Bach, chairman of the supervisory board, in a company release.

The company also announced that Walter Fahrenschon will leave as chairman of the management board for personal reasons and upon his own request.

"The supervisory board accepted the request of Mr. Fahrenschon with regret and respect. We thank Mr. Fahrenschon for his great involvement within the Weinig Group. During his activity in the enterprise he has given important impulses for the path into the future such as most recently by the acquisition of the assets of Holz-Her. His successor will build on these decisions. Mr. Fahrenschon will also continue to be connected with the enterprise in a consulting function. The Supervisory Board and all the employees wish Mr. Fahrenschon all the very best for his personal future," said Bach.