German mineral waters producer Gerolsteiner has announced its chief executive officer Roel Annega is set to leave the business.
In a statement issued yesterday (5 January), the company said Annega will step down for “personal reasons”, with his departure scheduled for the end of August.
Stefan Schmitz, chairman of the group's advisory board, said, “We very much regret that Annega is leaving us after a total of seven very successful years”.
He added that “Annega has made a significant contribution to the dynamism and development of the company and its corporate culture”.
A successor has yet to be appointed and will be announced in due course.
“We are confident that Gerolsteiner is excellently positioned for the future and that the very positive development of recent years will continue," Schmitz said.
"We have jointly planned and prepared the handover to ensure a seamless transition and a high degree of continuity.”
Gerolsteiner’s product range includes several mineral waters sold under its own brand, such as Sprudel, Medium, and Feinperlig, as well as Gerolsteiner medicinal water and St Gero medicinal water.
Its portfolio is complemented by spritzers, lemonades, flavoured waters and cola-based drinks.
Founded in 1888, the company employs more than 850 people.
A 51% shareholding in Gerolsteiner is held by local brewery Bitburger Group, while industrial gases supplier Buse KSW GmbH & Co. owns 32%; the remaining equity is in private free float.
Reflecting on his departure, Annega said: “I am proud of what we have achieved together and am convinced that there are still many new chapters to come in the company’s successful journey.”
Explaining his decision, he added: “I have taken this decision for entirely personal reasons. After 28 years abroad, the right time has come for me to return to my home country, the Netherlands.
“I have resolved to spend more time with my family and on several private projects in the coming years. I am very proud and grateful to have been a small part of the Gerolsteiner journey.”
