G&D chief Ottenberg quits for Bosch

Source: Giesecke & Devrient

Dr. Karsten Ottenberg (51), Chairman of the G&D Management Board, is leaving the company on his own accord, effective September 30, 2013 to become Chairman of the Board of Management of Bosch und Siemens Hausgeräte GmbH.

"We would like to thank Karsten Ottenberg for his great commitment. He has contributed significantly to the successful development of the G&D Group in the past years“, said Dr. Peter-Alexander Wacker Chairman of the Supervisory Board.

Dr. Karsten Ottenberg has been CEO and Chairman of the Management Board of the Giesecke & Devrient GmbH Munich since April 1, 2005. Over the last eight years he has led the company, which specializes in banknotes and security solutions, into innovative new markets and stronger international growth. Before joining G&D, Ottenberg, holding a PhD in physics, spent 18 years at the Dutch Philips group in various management roles in Research and Development, Marketing and Sales as well as being responsible for integrated business divisions on the board of the company's semiconductor division.

His successor will be announced in due course.

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