Valmet Automotive´s Board of Directors has appointed Olaf Bongwald, 51, as CEO of Valmet Automotive, effective July 15, 2018. Mr. Bongwald’s home office will be in Bad Friedrichshall, Germany, allowing him to spend a significant part of his time with the customers and to participate actively in business development activities in Central Europe.
Olaf Bongwald joins Valmet Automotive from American Axle where he has acted as President, Driveline Europe. Previously Mr. Bongwald has served Magna for 17 years and has held there several senior business leadership positions. Most recently he was responsible at Magna for Magna Electronics globally and was part of the global senior leadership team of Magna Powertrain.
– This nomination is a reflection of the company’s updated strategy to expand its business portfolio into electrification of vehicles and their battery solutions as well as to grow in Central Europe. Olaf brings us nearly 20 years of experience from one of the globally leading Tier1 suppliers. He has all it takes to be a great cultural fit with Valmet Automotive and this is equally valuable as the wealth of knowledge he brings with him. Olaf has a proven track record of leading and growing global automotive businesses and driving sustainable profits. I am very pleased that he decided to join Valmet Automotive and I am convinced that we will accelerate under his leadership the positive development we have had in the company during the first half of 2018, says Jarkko Sairanen, Chairman of the Board of Directors, Valmet Automotive.
– I am honored by the opportunity to join Valmet Automotive. The company has a longstanding reputation for high quality and deep capability among the leading German automotive companies. I am excited about the new strategy of Valmet Automotive and look forward to working with the entire Valmet Automotive team and our customers to realize it, says Olaf Bongwald.
Valmet Automotive is an experienced provider of automotive engineering, vehicle manufacturing, battery systems and convertible roof systems. Our special areas of expertise are premium cars, electric vehicles and convertibles. We employ 5,500 professionals in Finland, Germany, Poland and Spain.