Changing of the guard at Bosch Rexroth Corp.

Lohr, Germany - On Feb. 3, 2003, the Executive Board of Bosch Rexroth AG announced that Bob Rickert will step down as president and chief executive officer of Bosch Rexroth Corp. (Hoffman Estates, IL), effective April 1. He will be replaced by Wolfgang Dangel, currently executive vice president and chief financial officer. Mr. Rickert will assume the role of advisor to executive management.

02/05/2003



Wolfgang Dangel, newly appointed president and chief executive officer at Bosch Rexroth Corp.

Lohr, Germany - On Feb. 3, 2003, the Executive Board of Bosch Rexroth AG announced that Bob Rickert will step down as president and chief executive officer of Bosch Rexroth Corp . (Hoffman Estates, IL), effective April 1. He will be replaced by Wolfgang Dangel, currently executive vice president and chief financial officer. Mr. Rickert will assume the role of advisor to executive management.

Mr. Dangel's background includes two years' experience as executive vp and cfo of Bosch Rexroth, along with completing successful leadership roles in Germany, South Africa, and the People's Republic of China. No decision on his replacement has been made at this time.

''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.

Valued accomplishments, achievements

Mr. Rickert has more than 24 years' experience with Bosch Rexroth. In the U.S., he helped grow the Electric Drives and Controls division (formerly known as Indramat) and Rexroth Automation from 1998 to January 2001. In February 2001, he was appointed president and ceo, overseeing the successful merger of Bosch Automation Technology and Mannesmann Rexroth in May 2001. He helped complete post-merger consolidation in 2002.

Moreover, during the past two years, Mr. 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.

In expressing the entire Executive Board's ''sincere gratitude to Bob for his service, support, and achievements,'' Mr. Witte added, ''In fact, over the last few years, he has led Bosch Rexroth Corporation in achieving numerous milestones-in spite of extreme economic uncertainty.''

Bosch Rexroth Corp.-a merger of Bosch Automation Technology and Rexroth-is a wholly owned subsidiary of Robert Bosch GmbH. With approximately 26,000 employees worldwide, the company's divisions include Industrial Hydraulics, Electric Drives and Controls, Linear Motion and Assembly Technologies, Pneumatics, Service Automation, and Mobile Hydraulics.

Control Engineering Daily News Desk
Frank J. Bartos, executive editor
fbartos@reedbusiness.com





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