TES Vsetín announces senior management changes


TES Vsetín, a leading European designer and manufacturer of electric rotating machines and their components, including generators for the hydro power industry and industrial automation solutions, today announced the election of Michael Hengstmann as Chief Executive Officer to lead the general management and day-to-day operations of the company. Additionally, Jan Kasanický has been appointed Finance Director. Both roles are with effect from 1 July 2016.

Mr. Hengstmann, who was previously Chief Operating Officer of TES, takes on his new role following the retirement of David Bečvář as CEO and statutory representative of the company. Mr. Bečvář will remain in an advisory capacity to TES on a transitional basis.

Prior to joining TES, Mr. Hengstmann held roles as Chief Executive Officer and Chief Finance Officer for manufacturing and engineering companies in the automotive and aerospace industries, including Airbus/Dornier. He also brings considerable experience in managing the growth and improving the performance of leading manufacturing and services companies as a Partner and Managing Director at international consulting firms AlixPartners and LEK Consulting. Mr. Hengstmann holds a Master of Management Science degree, with honours, from Hult International Business School in Cambridge, USA, and studied Business Administration at the University of Duisburg.

Mr. Kasanický joins TES from Woco STV, an automotive parts manufacturer, where he was head of the finance department. He previously worked as Assitant Manager at PwC. Mr. Kasanický holds a master’s degree in finance from VŠB – Technical University of Ostrava and is a Chartered Certified Accountant of the ACCA. His appointment follows the resignation of CFO Giorgio Margutti, who left TES earlier this month to pursue other business interests.

Peter Edelmann, Chairman of TES, said: “Mr. Bečvář and Mr. Margutti have both performed their duties as CEO and CFO diligently and conscientiously during their respective terms in office. We appreciate their contributions over the years in making TES one of the leading players in the components business and one of the major suppliers of generators to the small and medium-sized hydro power market. At the same time, we welcome Mr. Hengstmann and Mr. Kasanický to their new positions as we look to further grow TES by continuing its international expansion and implementing best practices in operations.”

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