Press Releases

Hamburg
June 19, 2020

Changes in the Executive Board of Marquard & Bahls at Year-End 2020

Olaf Schulz is appointed to the Executive Board of Marquard & Bahls AG as CFO effective January 1, 2021

Marquard & Bahls AG CFO Lorenz Zwingmann will be leaving the company at his own request at the end of 2020, upon the regular expiry of his contract, to focus on his supervisory and advisory board activities going forward.

In his capacity as CFO, Lorenz Zwingmann has driven the restructuring of the company in recent years. Among other things, the finance organization was restructured, the Marquard & Bahls Business Solution Center established, and the SAP implementation accelerated. The operating units were strengthened through important refinancing measures. In addition, a global cost saving initiative was implemented with great success under his lead management.

The Supervisory Board has been able to recruit Olaf Schulz, a very experienced and respected internal candidate, for the position of CFO. Olaf Schulz has been in charge of Group Controlling at Marquard & Bahls since April 2019. During this time, he has realigned the department and significantly advanced transparency and modernization processes with several projects. In more than 20 years in various management positions at well-known companies, he has acquired a broad range of expertise in the financial sector. An economics graduate, his past roles have included Head of Group Controlling at mg technologies ag and KION Group AG, and Chief Financial Officer (CFO) of the STILL Group.

“We are very pleased that in Olaf Schulz, we have been able to recruit a financial expert from our own ranks who will not only ensure continuity but also brings excellent leadership qualities to help shape the company’s future together with our CEO, Mark Garrett. Having said this, we deeply regret that Lorenz Zwingmann has chosen a different career path. He has rendered great services to the company with his vast experience and personality. We therefore envisage appointing Lorenz Zwingmann to the Supervisory Board at a later date," comments Dr. Daniel Weisser, Chairman of the Supervisory Board of Marquard & Bahls AG.

The shareholders and the Supervisory Board would like to take this opportunity to thank Lorenz Zwingmann for his extraordinary commitment and highly successful work.


Marquard & Bahls AG
is an agile, independent holding company in the energy & chemicals sector. Its core business areas include tank terminal logistics, trading, and aviation fuelling. Through its subsidiaries, Marquard & Bahls is represented in 35 countries in Europe, America, Asia, and Africa, and employs around 6,700 people worldwide.   www.marquard-bahls.com 

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Jörg Walter
Head of Corporate Communication
Marquard & Bahls AG

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