Beaujean and Hagen reached their decision after the closing of the Terex Industrial Holdings AG voluntary public tender offer on 16 August 2011, which led to a change of control. Owing to the change in conditions, Beaujean and Hagen have decided to seek out new challenges after their nearly five years of successful management of Demag Cranes AG.
Chairman of the Supervisory Board, Burkhard Schuchmann, emphasises in this connection; “I regret very much the decision that Mr Beaujean and Mr Hagen have taken, but understand why they have chosen to seek out new challenges after the successful takeover of Demag Cranes AG. I would like to thank Mr Beaujean and Mr Hagen for their excellent work and wish them all the best and every success for the future.”