Morgan Stanley and Annex Capital, the shareholders of Ploucquet Holding, the owner of Sympatex Technologies, have unexpectedly replaced the two top managers of the laminate manufacturer. The company is not ready to comment the prompt departure of its managing directors, Thomas Baierlein and Udo von Reinersdorff.
The new spokesman of the board for Plouquet and Sympatex is Michael Kamm, in charge of marketing, sales, research and development, and production, while Richard Lohner will direct purchase, finances, controlling, human resources and logistics.
Both new managing directors are experienced turn-around managers who have served for a long list of troubled companies. In 1989, Kamm acquired the North Sails Windsurfing group, restructured it and eventually sold it to Mistral. Later on, he was involved in the rescue of other brands, including Marker and Nici, the toy company, after it went belly-up in 2006, as well as Etienne Aigner, the fashion and leathergoods brand.
Lohner is also experienced in reorganizing troubled apparel companies. Between 1991 and 2008 he worked for Escada, the German luxury fashion company; in the past few years he was with Bäumler, another German apparel group.