782 — Karl-Heinz Streibich appointed new CEO of Software AG

Aug 21, 2003 | Conteúdos Em Ingles

Software AG has appointed a new CEO, Karl-Heinz Streibich, replacing Karl Heinz Achinger, acting CEO since 1 December 2002. Previously a member of the board of management of T-Systems International, Streibich, 50, has more than two decades’ experience in the international IT service industry with companies like Daimler-Benz, Dow Chemical, ITT and debis Systemhaus. His appointment marks the completion of Software AG‘s restructuring programme. The company has already undertaken far-reaching changes to both structure and strategy.

“I am very much looking forward to this new challenge. Software AG has exceptional expertise and many inherent strengths. Its new, decentralized structure and its XML-based solutions will enable the company to build on 30 years of achievement for a long and successful future,” Karl-Heinz Streibich commented.

As part of the restructuring process, Software AG has organised its international subsidiaries into four regions, each with significant independence in terms of sales and marketing, and each managed from a base in a strong core market. The four regions are: Americas Region (core market: USA), Southern and Western Europe Region (core market: Spain), Central and Eastern Europe (core market: Germany) and Northern Europe and Asia/Pacific Region (core market: UK ).

In light of a review of product strategy, Software AG decided to maintain the emphasis on its core competency, databases. The company will also leverage its technology expertise in XML (extensible mark-up language) to develop standard solutions.

For the Q1 2003, Software AG reported a net loss of 9.7 million euros (2.4 million euros in 2002).


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