Valmet Automotive’s Board of Directors has appointed Olaf Bongwald, 51, as CEO of Valmet Automotive, effective July 15, 2018.
Mr. Bongwald’s home office will be in Bad Friedrichshall, Germany, allowing him to spend a significant part of his time with the customers and to participate actively in business development activities in Central Europe.
Olaf Bongwald joins Valmet Automotive from American Axle where he has acted as President, Driveline Europe. Previously Mr. Bongwald has served Magna for 17 years and has held several senior business leadership positions there.
This nomination is a reflection of the company’s updated strategy to expand its business portfolio into electrification of vehicles and their battery solutions as well as to grow in Central Europe. Olaf brings us nearly 20 years of experience from one of the globally leading Tier 1 suppliers.
“Olaf has a proven track record of leading and growing global automotive businesses and driving sustainable profits. I am very pleased that he decided to join Valmet Automotive and I am convinced that we will accelerate under his leadership the positive development we have had in the company during the first half of 2018,” says Jarkko Sairanen, Chairman of the Board of Directors, Valmet Automotive.
“I am honored by the opportunity to join Valmet Automotive. The company has a longstanding reputation for high quality and deep capability among the leading German automotive companies. I am excited about the new strategy of Valmet Automotive and look forward to working with the entire Valmet Automotive team and our customers to realise it,” says Olaf Bongwald.