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Business Observer Thursday, Aug. 9, 2018 1 month ago

Manufacturer begins search for new CEO after resignation  

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Hubertus Muehlhaeuser has been at the helm of Welbilt since August 2015.

NEW PORT RICHEY — Global foodservice equipment manufacturer President and CEO Hubertus Muehlhaeuser announced he’s resigning his position, effective Aug. 31.

Muehlhaeuser will become CEO and a director of CNH Industrial N.V., a $27 billion global manufacturer of capital goods, comprising agricultural and construction equipment, commercial and specialty vehicles and powertrain technologies, according to a statement. Muehlhaeuser was named CEO of Welbilt in August 2015.

Welbilt’s Board of Directors appointed Josef Matosevic to assume the role of interim president and CEO, the release adds. Matosevic joined Welbilt in August 2015 and most recently was an executive vice president and COO. Prior to Welbilt, Matosevic held executive positions at The Manitowoc Co., Oshkosh Corp. and Wynnchurch Capital/Android Industries. The Welbilt board is actively pursuing a permanent CEO from both internal and external candidates, the release states.

“The board thanks Hubertus for leading Welbilt through the successful spinoff from The Manitowoc Co. Inc., establishing the strategic roadmap for the company and building out the strong management team that has been executing this strategy,” Board Chairwoman Cindy Egnotovich says in the statement. “In only three years, Hubertus and his team have created tremendous shareholder value while rebuilding Welbilt, putting it on the path again to be the leader in the commercial foodservice industry. The progress that this team has made creates a very strong foundation and strategic direction for the next CEO to build upon.”

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