30/09/2016

Hansgrohe continues to grow

Change in the senior management of Hansgrohe SE

Hansgrohe SE will again reach its ambitious goal to grow twice as fast as the market and continue to increase its strong profitability in 2016, thus successfully continuing the development of recent years. We currently expect to exceed the net sales threshold of one billion euros for the first time in the current fiscal year. Our customers take to our products so positively that we will be able to implement even further increases in our growth strategy. At these levels Hansgrohe is now firmly established among the largest German Mittelstand companies.

Structures for further growth created
Our growth strategy “Hansgrohe 2020” initiated by the Management Board at the end of 2014 already showed visible results with record sales and earnings in the fiscal year 2015. This is accompanied not only by product and market initiatives but also by efficiency gains in work processes as well as the organizational structure. One example is the recently communicated change of the Brand Management area, which now integrates both group brands AXOR and hansgrohe. Both members of the Grohe family, who are part of the senior management, strongly supported and encouraged the strategic and organizational shift towards a global group governed by even more performance thinking, transparency and a high degree of professionalism.

“Given the jointly developed organizational structure and the extremely positive business situation, the two family members, namely Richard and Philippe Grohe, have - in consultation with the Supervisory Board and Management Board – decided to support the company in the future exclusively from their shareholder position," says the Chairman of the Supervisory Board of Hansgrohe SE, Klaus F. Jaenecke.

The Deputy Chairman of the Executive Board, Richard Grohe and his brother Philippe Grohe, Vice President Design Management, will hand over their duties and responsibilities at the end of October. The Chairman of the Executive Board, Thorsten Klapproth, will on an interim basis take over the duties currently performed by Richard Grohe.

"The entire Supervisory Board and I myself in particular thank Richard Grohe most warmly. We pay the greatest respect to him and his work as he has had a crucial influence on the success of the business in the past. Likewise, our special thanks and best wishes for the future go to Philippe Grohe, who led the AXOR brand successfully and who fostered and intensified the dialogue with our international design partners”, as the Chairman of the Supervisory Board pointed out.

The ownership structure of Hansgrohe SE will not change. 32 percent of the shares will still be held by Syngroh. Likewise, the stake of the American majority shareholder Masco Corporation, a reliable partner to Hansgrohe since 1985, also remains unchanged with 68 percent of the shares.

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