DORMA: Planned Generation Change at the Top

Ennepetal, Germany. At the beginning of the year, DORMA’s then sole proprietor, Karl-Rudolf Mankel transferred the majority of his shares in the company to his daughters Christine and Stephanie Mankel, putting in train a generation change in the organisation’s ownership structure. Now a further change is being prepared at the CEO level.

Having consulted with the proprietors, CEO Dr. Michael Schädlich (59) will be leaving the company on completion of his current contract as of June 30, 2010. The aim of this early announcement is to ensure transparency and comprehensibility with regard to the decision made, and to avoid unnecessary rumour.

“We can all look back with pride at our achievements in developing and expanding the DORMA Group,” declared Dr. Schädlich. “When Mr. Mankel appointed me CEO on January 1, 1996, the company had some 3,200 employees generating the equivalent of €311 million. Today our workforce has more than doubled and, at almost €900 million, we can boast a profitable business that is around three times greater in size,” commented the CEO.

Part of the purpose of this early announcement is to enable the transition process to be managed in such a way that the DORMA Group is able to progress not just unscathed but strengthened into the future.

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	Dr. Michael Schädlich, CEO of the DORMA Group download view picture