ECONOMY REPORTS - Designated Rieter CEO does not take up new position after bonus dispute +++ Purchase offer for Meier Tobler
The latest news from the economy.
Rieter, a Swiss textile machinery manufacturer, has appointed Georg Stausberg as its new CEO, effective immediately. This follows the sudden departure of Daniel Lippuner, who was set to take over the role, due to disagreements over his compensation package. Stausberg previously served as CEO of Barmag, a company acquired by Rieter in February.
Meier Tobler, a Swiss trading firm, has received a public takeover offer from Swedish company Ahlsell Group, which is offering 45.50 francs per share, valuing the company at around 492 million francs. The company's board of directors has unanimously recommended that shareholders accept the offer.
BMW has reported a 15% decline in its third-quarter profit, earning 1.45 billion euros after taxes. The company has issued a profit warning for the fourth quarter, citing a challenging market in China, where it has seen a 25% decline in sales.
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.
