KTM boss Pierer moves into the supervisory board of Mercedes

KTM boss Pierer moves into the supervisory board of Mercedes
CEO Stefan Pierer (KTM)

The top manager is already President of IV OÖ and a member of the following supervisory boards and comparable supervisory bodies: Oberbank (Linz), Pankl and Pankl Racing Systems (Kapfenberg) as well as SHW and Schwäbische Hüttenwerke Automotive (Aalen, Germany).

Only recently Pierer had significantly expanded its activities. In March he announced the takeover of the ailing German auto parts supplier Leoni. Pierer was ready to provide Leoni with 150 million euros of fresh capital and to take on almost half of the debt with 708 million euros, Leoni said at the time. Leoni is to be taken off the stock exchange. The other shareholders are left empty-handed in the course of the capital cut – which caused criticism. In mid-April, the German Association for the Protection of Securities (DSW) called on Leoni shareholders to resist the planned restructuring concept.

Pierer’s industrial group, which includes Pierer Mobility/KTM and the car and aircraft supplier Pankl, increased both sales and earnings by around a fifth in 2022. Sales increased by 20 percent to 3.3 billion euros. Operating profit (EBIT) increased by 22 percent to 269.4 million euros. Investments increased by 38 percent to 389.4 million euros. The company invested 280 million euros in Austria. The group currently employs around 11,000 people worldwide.

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