SMT Scharf AG: Supervisory Board appoints new Managing Board

SMT Scharf AG: Supervisory Board appoints new Managing Board

• Reinhard Reinartz becomes the company’s new CEO and COO
• Volker Weiss to be the company’s new CFO with effect from November 1, 2023
• New Managing Board with many years of management expertise at internationally active mining suppliers

Hamm, October 27, 2023 – SMT Scharf AG (WKN: A3DRAE; ISIN: DE000A3DRAE2), one of the world’s leading providers of customised transport solutions and logistics systems for underground mining, announces that the Supervisory Board has appointed Mr. Reinhard Reinartz as the company’s new Chief Executive Officer (CEO). He will also assume the role of the Chief Operating Officer (COO) at the Managing Board and in this function will be responsible for product development and design, production, purchasing, quality assurance and personnel. The term of office is to begin no later than May 1, 2024, but earlier if possible. In addition, Mr. Volker Weiss was appointed as a member of the Managing Board as of November 1, 2023. He will assume the role of the Chief Financial Officer (CFO). The new Managing Board thus succeeds Mr. Hans Joachim Theiß (CEO and CFO in personal union) and Mr. Wolfgang Embert (COO), who, as already announced, will leave the company on December 31, 2023.

Univ. Prof. Dr. Louis Velthuis, Chairman of the Supervisory Board of SMT Scharf AG, comments: “We are very pleased that Mr. Reinhard Reinartz and Mr. Volker Weiss have decided to assume the roles of CEO and CFO respectively at SMT Scharf AG. Both have many years of management experience at well-known international mining suppliers and are therefore very familiar with the international mining market. We are convinced that the new Managing Board will therefore provide the SMT Scharf Group with important impetus, and wish both of them every success in their new positions.”

“I am looking forward to my new role at SMT Scharf AG with great motivation and would like to thank the Supervisory Board for the trust and confidence they have placed in me. I have been working in the mining sector throughout my entire professional career and I am familiar with its business mechanisms from the inside at international mining suppliers. As member of the newly formed Managing Board I intend to leverage my extensive experience in managing international teams as well as my financial and technical expertise in a targeted manner to lead the SMT Scharf Group to a successful future,” Reinhard Reinartz explains.

The new CFO Volker Weiss comments: “I am very much looking forward to my new job at SMT Scharf AG and would like to thank the Supervisory Board for the trust and confidence they have placed in me. I have been working in the mining sector for more than 25 years and am familiar with its particularities. In my role as CFO, I will use my expertise in a targeted manner to successfully further develop the SMT Scharf Group.”

Since July 2016, Reinhard Reinartz served as Managing Director at Sandvik Mining and Construction GmbH at the site in Styria, Austria. Under his leadership, the Mechanical Cutting division was successfully further developed, supplying the mining, earthmoving and tunneling industries with machines and systems for mechanical cutting, continuous mining and transport. In his professional career, including GKN Land Systems, Caterpillar Global Mining, Bucyrus, Terex, Fasieco-Finger and Case New Holland, he previously held international management positions, focusing on M&A, product development and engineering. Reinartz graduated from RWTH Aachen University with a master’s degree in engineering, majoring in mining. He also achieved a Certificate of Rock Mechanics during subsequent studies at Witwatersrand University in Johannesburg, South Africa.

Most recently, since February 2023, Volker Weiss has been a member of the management team at HBT GmbH in Lünen, an internationally active special engineering company for the mining industry. In his previous professional positions in the mining supply sector, including Caterpillar Global Mining Europe, Bucyrus Europe and the DBT Group, he held national and international management positions, including a total of around 13 years as a management board member of subsidiaries and the parent company. Such roles included being involved in wide-reaching international restructuring programmes and responsibility for global financial reporting and controlling. Mr. Weiss trained as an industrial manager and studied business administration at the Verwaltungs-Wirtschafts-Akademie Düsseldorf, with a focus on controlling.


Company profile

The SMT Scharf Group develops, manufactures and services transportation equipment for underground mining as well as for tunnel construction. Its main products include captivated railway systems that are deployed worldwide, primarily in hard coal mines, as well as in mines for gold, platinum and other metals. They are needed to transport material and personnel with payloads of up to 48 tonnes and on routes with gradients of up to 30 degrees. SMT Scharf also supplies the mining sector with chairlifts. Since 2018, SMT Scharf’s diverse portfolio has also included rubber-tyred diesel and electric vehicles for mining and tunnelling, including loaders, scissor lifts and underground trucks. As part of the further diversification of the business, the product range has been successfully expanded since 2019 to include electronic components and control systems for mining and other industries. Overall, the SMT Scharf Group is active with subsidiaries in seven countries, as well as commercial agencies worldwide. SMT Scharf generates a large share of its revenue in growing foreign markets such as China, Russia, Poland and South Africa.


Contact

Investor Relations
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Thorben Burbach
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