Mutares (ETR:MUXG) SE & Co. KGaA, a Germany-based holding company, has announced a strategic extension of Chief Financial Officer Mark Friedrich's contract until December 31, 2027, alongside a management reshuffle due to board member Johannes Laumann's sabbatical. CEO Robin Laik will take over Laumann's responsibilities, leading the company's M&A and Investor Relations departments.
The Supervisory Board expressed its confidence in Friedrich's continued contribution to the company's growth, recognizing his significant role over the past decade. Despite Laumann's absence, he will still provide advisory support to the management team.
In addition to leadership changes, Mutares has revealed ambitious financial targets and expansion plans. The company aims to achieve consolidated revenues between €4.8 billion and €5.4 billion for the fiscal year and projects Mutares Holding's net income to reach between €92 million and €112 million.
Looking forward, Mutares has set its sights on increasing revenues to approximately €7 billion by 2025 and €10 billion by 2028. This growth strategy includes strengthening its global footprint with the opening of a new office in China, which complements its existing network of 11 offices across Europe.
The recent strategic moves by Mutares underscore its commitment to long-term growth and international expansion. With the management team now reinforced by CEO Robin Laik's direct oversight of key departments, the company is poised to pursue its ambitious M&A growth plans and enhance its position in the global market.
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