Oliver Jung (61) will leave his position as Chairman of the Management Board of Festo SE & Co. KG as planned on expiry of his current mandate. The Supervisory Board has appointed Thomas Böck (52) as his successor. Mr. Böck will join the family-owned company as the new Chairman of the Management Board on 1 January 2024.

The Festo Group achieved double-digit growth for another year in a row. Sales rose by 13.4% to €3.81 billion in 2022 (previous year €3.36 billion). Festo intends to continue growing in 2023. Innovative automation is the enabler for the industrial transformation towards renewable energies, sustainable production, hydrogen and circular economy.

The Festo Group has achieved the highest turnover in its history for the 2021 financial year. After a double-digit growth in turnover of around 18% to 3.36 billion euros (previous year 2.84 billion euros), the company started the first quarter with a double-digit order intake. This puts the innovation leader in automation and technical education in a good starting position to push ahead with its strategic orientation towards digitalisation and ...