Germany's BayWa announces CEO departure amid restructuring
09/01/2026 17:32
Jan 9 (Reuters) - The chief executive of German agricultural supplies trader BayWa BYWGnx.DE, Frank Hiller, will step down from his role with immediate effect, the company said on Friday. The firm is undergoing a restructuring process that should last until 2028, after a debt-financed expansion strategy abroad led it to the brink of bankruptcy. BayWa has delegated the CEO's duties to existing members of the management board, it said in a statement. Hiller's service contract will terminate on July 31, 2026, it added. A source close to the matter told Reuters earlier this week that the struggling company was set to part ways with Hiller. (Reporting by Christina Amann and Linda Pasquini, Editing by Rachel More) ((linda.pasquini@thomsonreuters.com; +48 58 7785261;))
Recent news on Baywa AG
See all newsBrief: BayWa AG Reaches Agreement On Term Sheet For Adjusted Restructuring Agreement; Restructuring Of Hybrid Bond Planned
Brief: BayWa Reaches Understanding In Principle To Adjust Restructuring Agreement
Brief: BayWa Q1 Consolidated Revenue €2.3 Billion
Germany's BayWa preparing debt haircut, Handelsblatt reports
Brief: BayWa Lowers Mid-Term Outlook, May Delay 2025 Financial Statements