Dr. Mark Hiller Becomes a Fellow Partner at Recaro Aircraft Seating
Dr. Mark Hiller, Chief Executive Officer of Recaro Aircraft Seating GmbH & Co. KG, will become a fellow partner in the Schwaebisch Hall aircraft seat manufacturer. Hiller will successively acquire shares on a performance-based model over a period of 25 years starting this year.
In an agreement with Martin Putsch, Shareholder of the Group, Hiller will acquire a stake of approximately 10% of Recaro Aircraft Seating over the long term. Currently, all shares are held by Recaro Holding GmbH in Stuttgart, the brand and financial holding of the Recaro Group.
The Recaro Group has independently operating divisions Recaro Aircraft Seating in Schwaebisch Hall and Recaro Child Safety (child car seats) in Marktleugast. The Group’s consolidated sales were more than €350 million (US$478 million) in 2012.
Hiller began his career in the Group in 2003 as Head of Synergy Management of the former Keiper Recaro Group. In 2005 the Stuttgart native moved to the business division Recaro Aircraft Seating, where he became Managing Director and COO in early 2007. On April 1, 2012, the industrial engineer was appointed as CEO.
“I am delighted that Mark Hiller has accepted my proposal and decided to become a fellow partner at Recaro Aircraft Seating,” said Putsch. “His entrepreneurial commitment is an important signal for customers, suppliers, and employees with regard to the stability and long-term orientation of our aircraft seat business.”
“The possibility of investing in a company like Recaro Aircraft Seating is one of those opportunities that you only get once in a lifetime. I am convinced that our company is poised to further expand its role as a reliable partner of the global aviation industry,” commented Hiller. “To further pursue this goal as shareholder is both my motivation and responsibility. Above all, I see it as my life’s work.”