The Supervisory Board of Knorr-Bremse AG has unanimously extended the contract of Dr. Nicolas Lange for his role as a member of the Executive Board for an additional five years beginning October 2026. This early renewal comes just two years after Lange's initial appointment to the Executive Board in October 2023, where he holds global responsibility for the Rail Vehicle Systems division. Dr. Reinhard Ploss, Chairman of the Supervisory Board, emphasized Lange's significant contributions to the company's rail vehicle systems business, noting his strategic vision and technological expertise.
Ploss stated that amid global challenges and the ongoing transformation of the transport industry, Lange has established a clear direction for the Rail division's future growth. The decision reflects confidence in Lange's ability to navigate the company through industry changes while maintaining strong customer relationships. Marc Llistosella, Chief Executive Officer of Knorr-Bremse AG, characterized the contract extension as a powerful message about maintaining effective collaboration among Executive Board members. Llistosella highlighted the Rail Vehicle Systems division's substantial contribution to the company's development under Lange's leadership, specifically mentioning efficiency and performance improvements through the BOOST strategy program and pioneering investments in innovation.
Dr. Lange expressed gratitude for the Supervisory Board's trust and commitment to continuing the strategic initiatives implemented over the past two years. He emphasized his dedication to steering the Rail division toward profitable growth and lasting success while working collaboratively with the Executive Board team and colleagues worldwide. The contract extension provides stability in leadership as Knorr-Bremse continues to address key global trends including urbanization, sustainability, digitalization, and mobility transformation.
The decision to extend Lange's contract ahead of schedule demonstrates the company's focus on maintaining experienced leadership during a period of significant industry change. Knorr-Bremse, as the global market leader for braking systems and a leading supplier of other rail and commercial vehicle systems, benefits from continuity in executive leadership to navigate the evolving transportation landscape. The company's rail and commercial vehicle divisions collectively generated revenues of approximately EUR 7.9 billion in 2024, underscoring the importance of stable leadership in maintaining market position and driving future innovation.
