Marquard & Bahls AG

  • Land: Deutschland

Nachricht vom 20.04.2018 | 10:27

Changes on the Marquard & Bahls Executive Board

DGAP-Media / 20.04.2018 / 10:27

The Executive Board of Marquard & Bahls AG will consist of two members in the future. The current CEO Christian Flach and COO Julio Tellechea will step down from the Executive Board end of July 2018. Mark Garrett has been appointed as the new CEO; no replacement is planned for the position of COO. Lorenz Zwingmann will continue to serve as CFO.

After far-reaching internal change processes, Marquard & Bahls is now increasing emphasis on the successful growth of its core business areas - tank storage logistics, trading and aviation fuelling. A particular focus here is on increasing efficiency worldwide, and a closer integration of the strategic holding company with its operating companies.

Christian Flach as well as Julio Tellechea have decided to make their positions on the Executive Board of Marquard & Bahls AG available before the regular expiry of their contracts, to support a realignment of the company. The designated new CEO Mark Garrett, CEO of Borealis AG, Austria since 2007, brings a wealth of experience from more than 30 years in the chemicals and petrochemicals industry. He will take on the role of CEO on August 1, 2018.

In this connection, the Supervisory Board also decided to reduce the number of Executive Board members from three to two. The position of COO will not be filled. Instead, the Managing Directors of all divisions will report directly to the CEO as of August 1, 2018. The position of CFO continues to be held by Lorenz Zwingmann, who was appointed to the Executive Board of Marquard & Bahls AG in January 2018.

In his 25 years at Marquard & Bahls, Christian Flach has been one of the formative forces in the company's successful growth. He has provided important input in leadership roles at Mabanaft in London and Oiltanking in Houston, and as Head of Human Resources at Marquard & Bahls. After four successful years as Managing Director of the Mabanaft Group, in September 2009 he was appointed to the Executive Board of Marquard & Bahls AG, which he has chaired since January 2011.

Julio Tellechea was Regional Director for the Latin American business of Oiltanking for ten years, during which time he significantly expanded the network of tank terminals. From September 2012 until the end of 2014, he was Managing Director of the Mabanaft Group. During this period, he also sat on the Executive Board of Marquard & Bahls AG - since January 2015 in the newly created role of COO.

The shareholders and Supervisory Board thank Christian Flach and Julio Tellechea for their extraordinary dedication and the successes achieved, and wish them both all the best for the future.

Marquard & Bahls AG is a Hamburg-based family-owned company that operates in the fields of energy supply, trading and logistics. Its core lines of business include trading, tank storage logistics and aviation fuelling. Furthermore, the company is active in dry bulk handling, renewable energies, carbon trading, fuel analysis and gas supply. Through its subsidiaries, Marquard & Bahls has a presence in 36 countries in Europe, America, Asia and Africa and employs around 8,000 people.

Media contact:

Thomas Kollner
Head of Corporate Communication
Marquard & Bahls AG
Tel. +49 40 37004-0

End of Media Release

Issuer: Marquard & Bahls AG
Key word(s): Energy

20.04.2018 Dissemination of a Press Release, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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