Richter succeeds Dietmar Clausen, who left the business on June 30 at his own request to take over the management and shares of a company which is owned by his family.

Clausen said: “I would like to thank all employees, my colleagues, the Advisory Board and the shareholder families for the excellent cooperation over the past 16 years. Precisely because Zschimmer & Schwarz is a family business, the Advisory Board and the shareholder families were very understanding of my wish to continue my brother’s business.

“The company is active in the field of regenerative energies – an area that is very close to my heart and in which I would like to get more involved. Because I still feel connected to Zschimmer & Schwarz, I will continue to support the company in an advisory capacity. I wish the new CFO every success and all the best in his new role.”

Richter joined Zschimmer & Schwarz in 2020 as Director of Global Group Controlling, Risk Management and Treasury and has been a member of the management of the operating company since 2021.

He said: “Zschimmer & Schwarz has been standing for innovation and customer proximity for almost 130 years. It is both an honour and an obligation for me to help shape the strategy and operations of a family-owned company with such a long tradition. I look forward to contributing to the positive development of the Zschimmer & Schwarz Group with my experience and know-how.”