The executive board of Bosch Rexroth AG, Lohr, Germany, has announced that Bob Rickert will step down as president and CEO of Bosch Rexroth Corp., Hoffman Estates, Ill. Wolfgang Dangel, currently an executive vice president and the company’s chief financial officer (CFO), will replace him.
Rickert will assume the role of advisor to executive management, while Dangel will take over as president and CEO effective April 1, 2003. No decision on Dangel’s replacement has been made at this time.
In addition to his two years’ experience as Bosch Rexroth’s executive vice president and CFO, Dangel has completed successful leadership roles in Germany, South Africa, and the People’s Republic of China.
“With these appointments, the new executive management team will continue to increase the level of confidence that our associates, suppliers, and customers have in the leadership of our organization,” said Winfried Witte, chairman of the Bosch Rexroth AG executive board. “Bosch Rexroth Corp. will continue to grow and prosper for many years to come.”
Rickert has more than 24 years of experience with Bosch Rexroth. In the United States, he helped grow the Electric Drives and Controls division (formerly known as Indramat) and Rexroth Automation from 1998 to January 2001. In February 2001, Rickert was appointed president and CEO, overseeing the successful merger of Bosch Automation Technology and Mannesmann Rexroth in May 2001. Post-merger consolidation activities were completed in 2002.
In addition, over the past 22 months, Rickert has helped Bosch Rexroth implement a company vision and strategy, reduce operating costs, build the sales networks of both the Factory Automation and Mobile Hydraulics business units, enhance the U.S. distribution network, and advance the company’s e-commerce initiative.
“The entire executive board expresses its sincere gratitude to Bob for his service, support, and achievements,” said Witte. “In fact, over the last few years, he has led Bosch Rexroth Corp. in achieving numerous milestones—in spite of extreme economic uncertainty.”
For more information, visit www. boschrexroth-us.com.