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 continue to be a member of Mabanaft's Supervisory Board and thus remain associated with the Group.

In his capacity as CFO, Olaf Schulz was responsible for and instrumental in driving forward the reorganization and transformation of Marquard & Bahls over several years and successfully implementing it in a challenging environment. This transformation journey has now been successfully completed with the full implementation of a new corporate governance. While Marquard & Bahls is positioned as a lean holding company, the operating companies manage their business independently and realign their respective portfolios against the backdrop of the energy transition.

As Chairman of the Mabanaft Supervisory Board, Olaf Schulz has intensively supported the company in its successful strategic realignment and the implementation of the new strategy.

In the realigned Marquard & Bahls holding company, Christoph Witte, CEO, will take over Olaf Schulz's areas of responsibility.

“The shareholders of Marquard & Bahls and the Supervisory Board would like to take this opportunity to 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 with Olaf Schulz, not only an experienced CFO but also a proven expert in corporate transformations and mergers & acquisitions, will remain with the Group."

Marquard & Bahls AG is an independent holding company with majority shareholdings in operating companies in the energy sector. Founded in 1947, the company pursues the vision of being a successful ethical investor supporting human development.  www.mbholding.com

Press Contact:
Jörg Walter
Head of Corporate Responsibility
Marquard & Bahls AG
communication@mbholding.com