Steyr Motors AG, a leading manufacturer of customized engines for defense and civil applications, has proposed two new members for its Supervisory Board ahead of the Annual General Meeting scheduled for 10 April 2026. The company is nominating Rolf Wirtz and Gerhard Schwartz, both described as experienced industry and capital market experts, to fill vacancies created after the departure of representatives from the former major shareholder, Mutares SE & Co. KGaA.
The proposed changes follow Mutares SE & Co. KGaA's sale of its entire stake in Steyr Motors AG in November 2025. This transaction resulted in the departure of previous Supervisory Board members Dr. Christian Klingler and Fabian Schlegel, whose terms will conclude at the close of the upcoming Annual General Meeting. Their departure necessitates the election of new board members to provide governance and strategic oversight for the company.
Rolf Wirtz brings extensive defense sector experience, having served most recently as CEO of TKMS until 2022. The company states his in-depth expertise in the defense industry is essential for Steyr Motors, which specializes in engines for military special vehicles, boats, and auxiliary power units. Wirtz is designated to become Chairman of the Supervisory Board and will support the Management Board in expanding business in both military and civil sectors.
Gerhard Schwartz is recognized as a financial expert on the Austrian capital market with a long career as an auditor and tax advisor, most recently as managing partner at EY. As the designated head of the audit committee, he will support the further expansion of key financial and control functions to position the organization for continued growth.
In addition to the two new nominees, the company proposes the re-election of Alexander Fitzka, Investment Manager of the B&C Group, who has served on the Supervisory Board since August 2025. This maintains some continuity on the board while introducing fresh perspectives aligned with the company's strategic direction.
Julian Cassutti, CEO of Steyr Motors, expressed confidence in the proposed board composition, stating the new members would provide "the best possible support and supervision" as the company takes its next steps toward growth. He also thanked the outgoing board members for their cooperation.
The Annual General Meeting will take place on 10 April 2026 at 10 a.m. in Steyr. Relevant documents are available on the company's website in the Investor Relations section at https://ir.steyr-motors.com. Steyr Motors AG, headquartered in Steyr, Austria, develops and produces high-performance customized special engines with applications in military vehicles, boats, and as auxiliary power units for main battle tanks and locomotives.
This board restructuring is significant as it represents Steyr Motors' strategic response to a major ownership change, ensuring continued expertise in both its core defense markets and financial governance. The appointments signal the company's commitment to maintaining specialized industry knowledge while strengthening financial oversight as it pursues growth objectives. The defense industry requires particular regulatory compliance and technical expertise, making Wirtz's background valuable for navigating this sector. Similarly, Schwartz's financial experience addresses the capital market expectations for transparent and robust financial controls, which are increasingly important for publicly traded companies like Steyr Motors AG.
The implications extend beyond corporate governance, potentially affecting the company's strategic partnerships, investor confidence, and ability to secure contracts in the competitive defense and specialized engine markets. A stable and experienced supervisory board can provide crucial oversight during periods of transition and growth, helping to mitigate risks associated with changing ownership structures. For stakeholders, including investors, employees, and clients, these appointments represent an effort to ensure continuity and expertise at the highest level of corporate oversight following a significant change in the company's shareholder base.
