Changes to the Executive Board of Marquard & Bahls

CFO Olaf Schulz will be leaving the Executive Board of Marquard & Bahls AG at his own request after the regular expiry of his contract on September 30, 2024. He will remain associated with the Group as a member of Mabanaft's Supervisory Board.

During his tenure as CFO, Schulz was instrumental in driving the reorganization and transformation of Marquard & Bahls, successfully implementing a new corporate governance in a challenging environment. The company is now positioned as a lean holding entity, with its operating companies managing their business independently and adjusting their portfolios in line with the energy transition.

As Chairman of the Mabanaft Supervisory Board, Schulz supported the strategic realignment and the implementation of the new strategy. In the realigned structure, CEO Christoph Witte will take over Schulz's responsibilities.

“We thank Olaf Schulz for his extraordinary commitment and excellent work,” says Daniel Weisser, Chairman of the Supervisory Board of Marquard & Bahls AG. “We are delighted that Schulz, an experienced CFO and expert in corporate transformations, will remain with the Group.”