The Supervisory Board of NORMA Group SE has appointed Miguel Ángel López Borrego as Chief Executive Officer from 1st January 2023. He shall exercise the function until the position has been permanently filled, at the latest until 31st December 2023. The Supervisory Board will continue its search for a permanent successor in the CEO role.
Günter Hauptmann, Chairman of the Supervisory Board of NORMA Group, comments: “We are extremely pleased to have tapped Miguel Ángel López Borrego to fill the CEO role during this transitional period, thus ensuring the continuity of the company’s management. He is exceptionally well positioned to leverage his deep insight into NORMA Group’s business model and the challenges it currently faces, enabling him to guide the company through the current turbulent economic environment in an organised and competent manner.”
Miguel Ángel López Borrego has been a member of the NORMA Group Supervisory Board since March 2021. As CEO of Siemens S.A in Madrid, he has been heading Siemens’ Spanish operations since 2018. López Borrego can draw on many years of management experience in the automotive industry, in general industrial equipment and in the field of new energy. He was born in Germany in 1965 and holds Spanish citizenship.
During the transition phase pending a long-term appointment to the position of CEO, López Borrego will continue to implement ongoing improvement measures in the company together with his two fellow Management Board members, Dr Friedrich Klein (COO) and Annette Stieve (CFO). In the meantime, his offices as member of the Supervisory Board shall be suspended.
“We will work together on the Management Board to stabilize profitability, compensate for inflation driven cost increases and enhance plant productivity,” says Miguel Ángel López Borrego. “With its diversified business model and strong order book, NORMA Group is in an excellent position to take advantage of growth opportunities even in challenging times.”
NORMA Group’s current CEO, Dr. Michael Schneider, will step down from the Management Board of NORMA Group at the end of 2022 by mutual agreement with the Supervisory Board. Dr. Michael Schneider and the Supervisory Board reached a mutual decision back in August not to extend Dr Schneider’s contract, which expires in mid-2023. The Supervisory Board’s search for a long-term appointment to the position of CEO is proceeding according to plan.
Supervisory Board Chairman Günter Hauptmann would like to thank Dr Michael Schneider on behalf of the entire Supervisory Board: “We regret Dr Schneider’s departure and thank him for the excellent cooperation. He has led NORMA Group in difficult times, initiated important digitalisation measures and promoted the focus on the growth markets of electromobility and water management. We wish Dr Schneider all the best for his personal and professional development.”
Having spent a decade in the fastener industry experiencing every facet – from steel mills, fastener manufacturers, wholesalers, distributors, as well as machinery builders and plating + coating companies, Claire has developed an in-depth knowledge of all things fasteners.
Alongside visiting numerous companies, exhibitions and conferences around the world, Claire has also interviewed high profile figures – focusing on key topics impacting the sector and making sure readers stay up to date with the latest developments within the industry.
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