EQS-News

DEUTZ AGM: Broad support for strategy adopted by Board of Management and Supervisory Board – new CEO of Green segment introduced

EQS-News: DEUTZ AG / Key word(s): AGM/EGM DEUTZ AGM: Broad support for strategy adopted by Board of Management and Supervisory Board – new CEO of Green segment introduced 08.05.2024 / 17:54 CET/CEST The issuer is solely responsible for the content of this announcement. Actions of the Supervisory Board formally approved by a large majority; shareholders also vote in favor of all management proposals Dividend increased to €0.17 per share approved Green segment now has its own CEO: Bert van Hasselt takes responsibility for alternative drive development with immediate effect Cologne, May 8, 2024 – At today’s virtual Annual General Meeting in Cologne, the shareholders of DEUTZ AG formally approved the actions of the Board of Management and Supervisory Board, voted in favor of all management proposals, and expressed broad support for the Company’s new strategic direction. The Annual General Meeting also approved the Board of Management and Supervisory Board’s proposal to pay a dividend of €0.17 for 2023. “Under the Dual+ strategy, presented at the beginning of 2023, we are focusing on clean internal combustion engines, green technologies that meet the needs of the market, and the global expansion of our service business. The results for 2023 show that this strategy is working,” explains DEUTZ CEO, Dr. Sebastian C. Schulte. “And we can see from our performance even in the much weaker economic climate of the first quarter of 2024 that we are now far more resilient than in the past. The operational elements of our new strategy and the growing service business are playing an important role here, as are the changes to our portfolio that have already been made.” The Chairman of the Supervisory Board of DEUTZ AG, Dr. Dietmar Voggenreiter, added: “We are on the right track, both strategically and structurally. That is evident from our record results for 2023, but also in the robust results at the start of the year.” Even in the difficult economic environment of the first quarter, DEUTZ AG was operating profitably. “This lays a solid foundation for our ongoing transformation from a traditional manufacturer of internal combustion engines to a provider of sustainable drive technologies.”