Klaus Schützdeller, chairman and CEO of Austrian crane manufacturer Palfinger since 1996, has resigned from the company, citing ‘personal reasons’.

Although a replacement chairman is being sought, a new management team has already been put in place. The supervisory board has appointed Wolfgang Pilz to head up the company’s truck crane and hook-loading equipment operations and Herbert Ortner to take charge of other operations, including the Crayler, Palgate and Mobiler product lines as well as Palfinger’s interests in e-logistics and railway equipment.

Pilz, aged 43, was formerly the manager responsible for marketing and distribution in the truck cranes division, which accounts for about 50% of group revenue and about 90% of the group’s profits. Ortner, aged 34, was previously in charge of developing the spare parts, components and service business.

Although Palfinger is already considered by many to be one of the most aggressive marketers in the industry, a company statement said that the two men had been tasked with further increasing Palfinger’s marketing efforts. ‘Market penetration of Palfinger growth products will be pursued and followed through more aggressively,’ the company said.

The company statement also said that Schützdeller had left the company on good terms. ‘Klaus Schützdeller has asked the supervisory board to accept his resignation for personal reasons with immediate effect. The supervisory board has accepted this request and has agreed to an amicable termination of Mr Schützdeller’s contract.

Mr Schützdeller significantly contributed to the success of the group from 1996 onwards. The position of chairman will be filled by someone new during the course of the year. In the meantime, Klaus Schützdeller’s tasks will be taken over by the new management team.’

Palfinger saw its 2002 operating profit fall 40%, with the German market proving particularly difficult. Final results are not published until 24 March but Palfinger took the precaution of giving investors the bad news as soon as possible. It warned in January that 2002 revenue fell 7.6% to E 306.8m ($330m). ‘This was mainly because of poor economic conditions, particularly in Germany, and because of the completion of inventory reductions,’ the company explained. Projected operating earnings (EBIT) are E 23.0m ($23m), down from E 38.1m in 2001. The management expects a slight improvement in sales, earnings and margins for 2003.