Senior Leadership Change At Welbilt

Welbilt Inc. announced August 9 that Hubertus Muehlhaeuser is resigning as a Director, President and CEO of Welbilt, effective August 31, to become the CEO and a Director of CNH Industrial N.V., a $27 billion global manufacturer of capital goods comprising agricultural and construction equipment, commercial and specialty vehicles, and powertrain technologies.

Executive V.P. and COO Josef Matosevic has been appointed by Welbilt’s board of directors to assume the role of Interim President and CEO upon Muehlhaeuser's departure. Matosevic has been with Welbilt since August 2015; prior to that, he held executive positions at The Manitowoc Co., Oshkosh Corp., and Wynnchurch Capital/Android Industries. The board of the New Port Richey, Fla., company is actively pursuing the appointment of a permanent CEO from both internal and external candidates.

“The board thanks Hubertus for leading Welbilt through the successful spin-off from The Manitowoc Company, establishing the strategic roadmap for the company, and building out the strong management team that has been executing this strategy,” says Cindy Egnotovich, Chairperson of Welbilt’s board of directors. “The progress that this team has made creates a very strong foundation and strategic direction for the next chief executive officer to build upon. We wish him all the best in this next chapter of his career.”

Matosevic was the first officer to join Muehlhaeuser’s team, she added, and has been instrumental in restructuring the business and implementing Welbilt’s production system. “Josef has developed strong relationships with our major customers. Josef is the best person to ensure stability and continuity to Welbilt’s operations and customers, providing a seamless transition as we finalize our decision for the CEO position through the board’s governance process.”