US-based screw-in hydraulic cartridge valves and manifolds design and manufacturing company Sun Hydraulics announced last month that company president and CEO Allen Carlson would “transition” from his current role effective from March 31, 2016.
In addition, Sun Hydraulics announced that company board member and vice-chairperson Wolfgang Dangel would replace Carlson as the company’s president and CEO, effective April 1, 2016. Dangel would also remain on the board of directors.
Carlson stated: “As I approached my sixty-fifth birthday, after 20 years at Sun, the last 15 as CEO, I advised the board of my desire to transition from my role as president and CEO sometime after the end of this fiscal year. Working with the board as part of our ongoing strategy and management succession planning, it became clear to me that next [autumn] would be an appropriate time for this transition. I look forward to working with Wolfgang and contributing to Sun’s future success as a member of the board.”
Sun Hydraulics board chairperson Philippe Lemaitre thanked Carlson for his long service to Sun, stating that, under Carlson’s leadership, the company’s sales grew to over $200-million and reached a market capitalisation of $1-billion. “Sun has achieved operational excellence under his leadership, increasing capability, capacity and efficiency, launching high-quality differentiated new products, and investing in global sales and marketing activities, as well as product and system engineering.
“As the board looked ahead to the next phase of Sun’s growth and expansion, we recognised that Dangel would be a natural successor to Carlson, given his familiarity with Sun [and] his background and experience in leading global industrial goods businesses,” said Lemaitre.
Dangel has been a director of the company since June 2009 and vice-chairperson of the board since December 2012.
From April 2014 through March 2015, Dangel was a consultant to global technology company Schaeffler Holding. From September 2011 to December 2013, he served as president of Schaeffler Automotive Global and a member of the executive board of Schaeffler Group and, from January 2007 to September 2011, as president of Schaeffler Group Asia-Pacific.
Dangel previously served as CFO and then as president and CEO of engineering firm Bosch Rexroth North America, and earlier as MD and chairperson of the management board of the China-based Mannesmann Rexroth. Dangel served as a member of the board of directors of US-based nonprofit organisation the National Fluid Power Association. He holds a master’s degree in economics from the University of Applied Sciences, in Rosenheim, Germany.
“The board of directors believes that Sun’s strategy and founding principles provide a strong foundation for future growth and expansion. The board welcomes Dangel’s strategic leadership of Sun’s executive team,” concluded Lemaitre.