The decision was taken by the supervisory board and its chair Bernard Krone who says it will strengthen the viable group structures as the family business continues on its course for success. The new member is CFO Ole Klose (56) who together with the board members CEO David Frink and COO Stefan Binnewies has been on the Krone Holding management board since October 2019 where he has been in charge of numerous business spheres including leasing, financing and trading.

By increasing the number of executive board members to three, the group also reorganises the above business fields. With the complex financial and human resource activities being pooled in the hands of Ole Klose, all board members will be able to take a more focussed approach in their individual fields. With procurement markets becoming increasingly tight, Dr Stefan Binnewies will concentrate on strategic purchasing processes and supplier management while he continues to be in charge of all activities of the group's commercial vehicles division. Dr David Frink will lead the strategic and highly process-oriented affairs of digitilisation and financial investment as he continues as head of the agricultural machinery division and its national and international business activities.

“By expanding the executive board, we strengthen the future viability of our group's various businesses as we keep up the tradition of our family business: constant innovation, excelling products and a sound financial standing,” says Bernard Krone, chairman of the group's supervisory board.