Generational change at the top: Dirk Damaschke and Marc Siemssen take over management of MEYLE AG from Dr. Karl J. Gaertner

After more than 28 years at the helm of the company, majority owner Dr. Karl J. Gaertner is stepping down from the MEYLE AG Management Board. From September 1, 2023, the Executive Board members Dirk Damaschke and Marc Siemssen will lead the Hamburg-based spare parts manufacturer as dual leadership.

Dr. Gaertner is thus placing operational management entirely in the experienced hands of his previous colleagues on the Management Board. Dirk Damaschke and Marc Siemssen have already been members of the company management and the Executive Board for several years.

Dr. Gaertner will remain Chairman of the Executive Board of the holding company Wulf Gaertner Autoparts AG, which is wholly owned by the family. He will continue to support MEYLE in this role with his expertise. This transition is planned for the long term and is part of a generational change that is gearing the company towards the future. As part of this, Dr. Gaertner's daughter Lisa Gaertner will join the holding company's Supervisory Board as a representative of the family.

"Over almost three decades, I have been able to contribute to developing MEYLE together with many dedicated colleagues into an internationally successful company that is known by our customers all over the world for its innovative strength and quality. Now the time has come for me to pass on the baton," says Dr. Gaertner. "Our goal as the owner family is to pass MEYLE on to the next generation as a successful and internationally competitive company. I am delighted that Lisa Gaertner is taking on responsibility in the holding company and that we have found exactly the right team in Dirk Damaschke and Marc Siemssen to continue the brand's success story."

Marc Siemssen looks forward to his new role with gratitude and anticipation: "Dr. Gaertner is a visionary entrepreneur who has made MEYLE the innovative, globally active company and strong brand that we are today. We are taking on responsibility for the company at an exciting time of change that presents challenges and opportunities for the entire automotive industry." Dirk Damaschke adds: "We have a strong starting position and a great team behind us, and we feel well prepared to drive forward major topics such as e-mobility, sustainability and international growth at full speed." Both are looking forward to continuing to work with Dr. Gaertner in his new role.