CEO of Recaro Aircraft Seating, Dr Mark Hiller (41), has announced plans to extend his involvement in the company, by also becoming a fellow partner in the Schwaebisch Hall premium aircraft seat manufacturer. According to the company, Hiller will successively acquire shares in the manufacturer of high-quality aircraft seats on a performance-based model over a period of 25 years, starting in 2014.
Hiller has concluded an agreement with Martin Putsch, shareholder of Recaro Group, which stipulates that Hiller will acquire a stake of around 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 Recaro Group.
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.
Martin Putsch, shareholder and CEO of Recaro Group stated: “I am delighted that Mark Hiller has accepted my proposal and decided to become a fellow partner at Recaro Aircraft Seating. 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. Together with his board colleague Andreas Lindemann, Dr Hiller has made a major contribution to the successful development of Recaro Aircraft Seating in recent years. Over the last 10 years, I have come to appreciate him deeply as a competent manager and as a person. The constellation is ideal. The current step is therefore the logical consequence of our successful cooperation. Together with Andreas Lindemann, Mark Hiller will continue the successful development of the company.”
Hiller added, “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. To further pursue this goal as shareholder is both my motivation and responsibility. Above all, I see it as my life’s work.”
