Enerpac Tool Group Announces Markus Limberger Appointed EVP – Operations

Rhea-AI Summary

Enerpac Tool Group (NYSE:EPAC) announced that Markus Limberger will be joining as EVP – Operations, effective September 1. Limberger, previously VP of Global Operations at Danaher’s Leica Microsystems, will manage all global operations including manufacturing and procurement. CEO Paul Sternlieb expressed confidence in Limberger's expertise to enhance global operational excellence and drive the ASCEND transformation program, aiming for improved quality and reduced costs.

Positive

• Markus Limberger brings extensive experience in global operations, enhancing leadership.
• Focus on operational excellence and cost efficiency with the ASCEND transformation program.

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• None.

MILWAUKEE--(BUSINESS WIRE)-- Enerpac Tool Group Corp. (NYSE:EPAC) (“Enerpac” or the “Company”) announced today that Markus Limberger will join the Company as EVP – Operations, effective September 1. He will have responsibility for all aspects of the Company’s global Enerpac operations including manufacturing, distribution, and procurement. Mr. Limberger will report to Paul Sternlieb, President & CEO of Enerpac Tool Group, and will serve on the company’s executive leadership team.

Mr. Limberger joins Enerpac from Danaher, where he held the position of Vice President Global Operations for Leica Microsystems GmbH, a market leader in microscopy and a subsidiary of Danaher. Previously he was Head of Operations and then Chief Operating Officer of Leica Camera AG. Throughout his career, Mr. Limberger has held roles of increasing scope and responsibility, with extensive experience across all facets of operations including manufacturing, procurement, logistics, research & development, and quality. His background includes a strong focus on operational excellence and proven success in developing and executing operations strategies to achieve sustained improvements in performance, with extensive experience in Lean and continuous improvement. Mr. Limberger holds a diploma in Engineering and Economics from the University of Karlsruhe in Germany.

Commenting on the announcement, Paul Sternlieb, President and CEO, noted, “I am very pleased to welcome Markus to the Enerpac leadership team, where he will have a critical role driving the execution of our global operational excellence initiatives. Now is a perfect time for Markus to come on board as we continue to implement our ASCEND transformation program. We believe running our Enerpac global operations under a single global function will allow us to optimize our processes to ensure we drive increasingly higher levels of quality and on-time delivery with lower overall cost and improved inventory levels.”

Mr. Limberger added, “I am excited to be joining Enerpac as it embarks on ASCEND, and I look forward to partnering with the executive leadership team to drive the transformation of the business to support the next phase of the company’s growth.”

About Enerpac Tool Group

Enerpac Tool Group is a premier industrial tools and services company serving a broad and diverse set of customers in more than 100 countries. The Company’s businesses are global leaders in high pressure hydraulic tools, controlled force products and solutions for precise positioning of heavy loads that help customers safely and reliably tackle some of the most challenging jobs around the world. The Company was founded in 1910 and is headquartered in Menomonee Falls, Wisconsin. Enerpac Tool Group common stock trades on the NYSE under the symbol EPAC. For further information on Enerpac Tool Group and its businesses, visit the Company's website at www.enerpactoolgroup.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220808005135/en/

Bobbi Belstner

Senior Director of Investor Relations & Strategy

262.293.1912

Source: Enerpac Tool Group

FAQ

Who is Markus Limberger in relation to Enerpac Tool Group (EPAC)?

Markus Limberger is appointed as EVP – Operations at Enerpac Tool Group, effective September 1.

What is the ASCEND transformation program mentioned in the Enerpac press release?

The ASCEND transformation program is an initiative aimed at optimizing Enerpac’s global operations for improved quality and cost-effectiveness.

What experience does Markus Limberger bring to Enerpac Tool Group (EPAC)?

Limberger has extensive experience in operations from his previous role at Danaher, focusing on manufacturing, procurement, and operational excellence.

When will Markus Limberger start at Enerpac Tool Group (EPAC)?

Markus Limberger will officially join Enerpac Tool Group on September 1.