Ebusco (Euronext: EBUS) announces that its Supervisory Board nominates Christian Schreyer as new Chief Executive Officer (CEO) in the Management Board. As announced in the press release on the H1 2024 results, the Executive Team has developed a turnaround plan. In this process, it was concluded that the organisation should be led by a single CEO with a general management track record in the public transport sector. Founder Peter Bijvelds and Michiel Peters will step down as Co-CEO’s on 2 September.
The Supervisory Board and current Co-CEO of Ebusco Peter Bijvelds, have agreed that it is the appropriate time for a leadership transition. Consequently Peter Bijvelds, will step down as Co-CEO. Since June current co-CEO Michiel Peters chaired the Executive Team while diagnosing Ebusco and defining a turnaround plan. In this process it has become clear that besides several operational changes the company requires a single CEO with a general management track record in the public transport sector. Michiel Peters is therefore stepping down.
Christian Schreyer (1968) will join Ebusco on 2 September as CEO and chairman of the Executive Team. Ebusco will convene an EGM to propose the appointment of Christian Schreyer as member of the Management Board in the role of CEO and to present the turnaround and financing plans. Several major shareholders have already expressed their support for Christian’s appointment by providing financial backing as a prelude to start implementing the turnaround.
Christian has over 25 years’ experience within the Public Transport and logistics sector having worked for companies such as Deutsche Bahn, DB Schenker Rail, Transdev and Go Ahead. Throughout his career, he has developed deep industry expertise, gained extensive customer insights, and successfully led massive company turnarounds. Christian holds a Master of Laws degree from Ludwig- Maximilians Universität Munich and pursued a General Management Programme at Harvard Business School in Boston USA.
In addition to these management changes, the Supervisory Board announces that Ruud Spoor will step down from the Supervisory Board for health reasons and Saskia Schatteman will step down as Supervisory Board member due to personal reasons. Both retirements are with immediate effect, the company extends its gratitude for their contributions.
Founder Peter Bijvelds, comments: “From 2010 onwards, my focus has been on establishing and further developing Ebusco. While the idea of making cities cleaner with zero emission buses once seemed ambitious, it has now proven to be the future. With the support of a dedicated team, I have built this organisation from the ground up and established Ebusco as an industry pioneer. Over the past decade, I’ve poured my energy into this mission, finding joy and satisfaction in seeing our products succeed and even outperform market standards in terms of energy efficiency. As Ebusco enters a new phase, it is time for me to hand over the CEO position to Christian whom I trust that under his leadership, the management will take the necessary steps to achieve the further execution of the turnaround.”
Michiel Peters, adds: “It has been a privilege to work with Peter, the Executive Team and other Ebusco colleagues. The superior product and bright people of Ebusco are a strong foundation for long term success. I believe that with the recent additions and the arrival of Christian Schreyer the Executive Team of Ebusco is strong and well positioned to deliver the required operational turnaround and further develop customer relations. I will therefore step back but will remain a supporter of the Ebusco team.”
Derk Haank, Chairman of the Supervisory Board of Ebusco, adds: “We extend our gratitude to Peter for his tireless commitment and dedication. We thank Michiel Peters for his leadership over the past period to chair the Executive Team while shaping the Turnaround Plan, preparing the organisation for the next phase, and supporting Christian Schreyer while on-boarding. To conclude, but by no means less important we thank Ruud Spoor for his dedication both before and after the listing of Ebusco as well Saskia Schatteman for the constructive cooperation over the past years”