CEO Schreier Leaving Heidelberger Druckmaschinen

HEIDELBERG, GERMANY—Heidelberger Druckmaschinen announced that CEO Bernhard Schreier will not be extending his management contract with the company and will step down at year's end following nearly 13 years as CEO of the press manufacturer. Dr. Gerold Linzbach will become CEO effective Sept. 1.

Heidelberg has implemented several initiatives to help it return to sustained profitable growth. Backed by a strong performance at drupa this past May, Heidelberg's first fiscal quarter yielded the most incoming orders in four years.