Welbilt Director, President and CEO Hubertus M. Mühlhäuser is resigning his post effective August 31, 2018, to become the chief executive officer and a director of CNH Industrial N.V, a manufacturer of agricultural and construction equipment.
The foodservice supplier has appointed Josef Matosevic to assume the role of interim president and chief executive officer upon Mühlhäuser’s departure.
Welbilt board of directors’ chairperson Cindy Egnotovich said: “In only three years, Hubertus and his team have created tremendous shareholder value while rebuilding Welbilt, putting it on the path again to be the leader in the commercial foodservice industry. The progress that this team has made creates a very strong foundation and strategic direction for the next chief executive officer to build upon. We wish him all the best in this next chapter of his career.
“One of the most important roles for a chief executive officer is assembling a strong management team and developing those leaders. This includes Josef Matosevic, who will serve as interim president and chief executive officer as the board undertakes a search for a new chief executive officer. As chief operating officer, Josef was the first officer to join Hubertus’s team and has been instrumental in restructuring the business and implementing the Welbilt Production System. In addition, Josef has developed strong relationships with our major customers. Josef is the best person to ensure stability and continuity to Welbilt’s operations and customers, providing a seamless transition as we finalize our decision for the chief executive officer position through the board’s governance process,” concluded Egnotovich.