Strabag SE board member steps down

It has been announced that Nematollah Farrokhnia will be leaving Strabag SE's executive board, of his own accord, on 31 December this year.

Strabag's CEO, Hans Peter Haselsteiner said, "Nematollah Farrokhnia has gained invaluable merits during his more than 30 years of service for Strabag in high-ranking positions.

"The integration of the German building construction and civil engineering activities in the course of the takeover of Strabag AG, Cologne, and Ed. Züblin AG, Stuttgart, are just an example for this.

"Over many years, he was the technical board member responsible for the group's biggest operational segment. It is with respect, but also with regret that we accept his desire to once again meet a new professional challenge. Our best wishes accompany him into the future," Mr Haselsteiner added.

The group will appoint an internal successor, Peter Krammer, who until now has been a member of the executive board of the Austrian subsidiary Strabag AG.

Mr Krammer will succeed Mr Farrokhnia as of 1 January 2010 as deputy member of the group's executive board.

The commercial responsibility for the segment building construction and civil engineering in the group's executive board remains unchanged with Thomas Birtel.

The Renaissance Group, for which Mr Farrokhnia is going to work, remains an appreciated joint venture partner for Strabag in selected markets.