Cleaning up the empire of Peter Spuhler: After Stadler Rail, Rieter is also changing its CEO.
Rieter CEO Thomas Oetterli was unable to lead the textile machine manufacturer out of the crisis despite having significant power. Peter Spuhler, as a major shareholder, must face critical questions.
Thomas Oetterli is leaving his position as CEO and President of the Board of Directors at Rieter, a textile machinery manufacturer. Peter Spuhler, the company's largest shareholder with 33.1%, will face critical questions. Daniel Lippuner will take over as CEO in November, while Carl Illi will become the new President of the Board. Oetterli was brought in 2023 to turn the company around but was unable to do so despite implementing a cost-cutting program and acquiring Barmag for 713 million francs.
Written by urgent.news from NZZ Wirtschaft's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
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