With this new structure, the owners of the Franco-German manufacturer of military land systems – the French state holding company GIAT Industries and the German family-owned company Wegmann & Co GmbH – are continuing on the path they forged in 2015: advancing in defined milestones towards the creation of a leader in its field.
The shareholders have decided to streamline the governance structure by establishing a single board of directors replacing the existing supervisory and management boards. After a first phase where the two subsidiaries got to know each other under the management of two co-CEOS and started building the company, it is time now to enter into the next phase of integration and development. The new structure will enable more efficient and coherent management of the KNDS companies and optimum leveraging of their potential and synergies.
The future board of directors of KNDS will comprise ten members. Nine members will be external appointees without any direct operational responsibilities within KNDS. The tenth member will be the Chief Executive Officer (CEO) of KNDS. Unanimously, the shareholders have appointed Frank Haun to assume this role. Frank Haun has served as CEO of Krauss-Maffei Wegmann since 2003. He played a crucial role in designing and building KNDS in 2015 and has been instrumental in the success of the company since 2015 as Co-CEO.