Prof. Klaus Josef Lutz elected new Chairman of BayWa’s Supervisory Board

Prof. Klaus Josef Lutz has been elected as the new Supervisory Board Chairman of BayWa AG. The 65-year-old replaces Manfred Nüssel, who headed the Supervisory Board for more than 20 years and had decided not to stand for re-election for another term.

“Manfred Nüssel is the record holder among supervisory board chairmen at any listed company in Germany,” Lutz says. “Of the 100 years that BayWa has been around, he has helped shape 40. The continuity that has characterised BayWa from the start is still going strong, as the clear vote by the shareholders illustrates. I would like to congratulate all of the Supervisory Board members who have been elected, and I look forward to continuing to actively help shape the Group’s development in the future with my knowledge and experience.” 

Lutz previously spent 15 years as Chief Executive Officer of BayWa. His time at the helm was characterised by the Group’s entry into the renewable energies business and the internationalisation of its agricultural and fruit trade activities. “The success story would have been inconceivable without him,” says departing Supervisory Board Chairman Manfred Nüssel. “Klaus Josef Lutz has woken the sleeping giant that was BayWa – with creativity, courage, foresight and assertiveness. Thanks to him and his entrepreneurial spirit, I can step aside with a good feeling.”

Nüssel had already stated in 2018 that he would not stand for re-election to the Supervisory Board. In response, Wolfgang Altmüller, the Chairman of the Supervisory Board of Bayerische Raiffeisen-Beteiligungs-(BRB) AG, nominated Lutz last year as the future Supervisory Board Chairman. With a stake of roughly 34%, BRB is BayWa’s largest main shareholder. In order to stand for election to the Supervisory Board, Lutz stepped down as Chief Executive Officer of BayWa AG ahead of schedule with effect from 31 March 2023.

The regular Supervisory Board election was held during today’s Annual General Meeting. Lutz was named BayWa’s new Supervisory Board Chairman at the constituent Supervisory Board meeting immediately following the Annual General Meeting

More information is available at www.baywa.com/press.
Print-ready press photos, footage material and video statements can be found here. 
BayWa AG on Twitter: www.twitter.com/BayWaPresse