Germany: Changes for the Fresenius board

Stephan Sturm, chief executive of Fresenius

German healthcare group Fresenius has made some changes to its supervisory board as well as extending the contract of chief executive Stephan Sturm by another five years.

Wolfgang Kirsch, a member of the board since the start of this year, is to become the new chairman. He will also stand for election to the supervisory board of the publicly listed company in May next year.

He replaces 82-year old Gerd Krick who is not standing for re-election.

The company said in a statement that Krick would be named honorary chairman of both supervisory boards.

The board decided unanimously to appoint Sturm to an additional five years as chief executive officer. He has been CEO of Fresenius since July 2016, having previously served 11 and a half years as the company’s chief financial officer.

“Fresenius is very well equipped for the future, and it remains in the best of hands,” said Krick. “With Wolfgang Kirsch, with whom I have worked closely and very trustfully since the start of this year, a very experienced expert, particularly in financial matters, will be succeeding me as chairman of both of our supervisory boards. And with Stephan Sturm we have at the head of our management board an executive who has been central to designing and executing the strategy that has brought continued growth over many years, and who enjoys the complete confidence of the supervisory board. Together with his management board colleagues, he will continue to pursue the successful course Fresenius has set.”