NAFELS, SWITZERLAND, Dec. 5 -- Dieter Klug, president and CEO of Netstal-Maschinen AG, will retire from his post effetive Dec. 31. The Netstal board of directors has named Bernhard Merki to succeed Klug.
Klug, 66, has served as chief executive for the last 10 years. Merki, formerly director of marketing and sales, is a 14-year veteran of Netstal. According to a Netstal spokesman, Merki was hand picked by Klug to continue the current management policies and strategy.
The board also approved the appointment of Jakob Albrecht as director of finance.