Management Board appoints Philipp Schulte-Noelle as CEO

The Ottobock Management Board has appointed Philipp Schulte-Noelle as its new CEO. The 42-year-old has been CFO of the international medical technology manufacturer since August and interim CEO since November 2018.

"I am delighted that we have been able to gain Philipp Schulte-Noelle as CEO on a permanent basis," says Professor Hans Georg Näder, President Chairman of the Management Board and owner of Ottobock. "Considering our clearly defined plan for the future, we have thus found the right manager at the right time for the leadership role in our jubilee year. Finally yet importantly, he brings with him the necessary tact that we need - transitioning to a digital company operating with the underlying conditions of the capital market.”

Ottobock is the world leader in technical orthopaedics and celebrates its 100th anniversary in February. Since August 2017, the owners, the Näder family, took on EQT as a shareholder with 20 percent of the shares of Ottobock in order to shape the company's growth and create joint value, especially considering a possible IPO. "I have been following Philipp Schulte-Noelle’s work for many years. During his months at Ottobock, he convinced us in his roles as CFO and Interim CEO. He is someone who does not only have strong competence in his field as well as leadership skills, but also has the ability to listen and perceive the vibes of his surroundings," says Marcus Brennecke, Global Co-Head Equity at EQT.

"Philipp Schulte-Noelle convinced us with his experience and his work," says Dr Bernd Bohr, Chairman of Supervisory Board and Deputy Chairperson of the Management Board. "As CEO, he will take on a strong leadership team. It is no coincidence that 2018 was the most successful year in the company's history".

About Philipp Schulte-Noelle

Philipp Schulte-Noelle has been CFO of Ottobock and Management Board member since mid-August 2018. In November 2018, he also assumed the role of CEO on an interim basis. In these roles, his responsibilities include the areas of accounting and taxation, controlling, internal auditing, risk management, compliance and IT, as well as Legal, Corporate Strategy and M&A, Human Resources and communications, the digital agenda and the business areas Human Mobility and Ottobock Industrials.

Before joining Ottobock, Schulte-Noelle initially served as Head of Corporate Business Development / Mergers and Acquisitions at the international healthcare company Fresenius SE & Co. KGaA and most recently as Chief Financial Officer and Head of Compliance as well as Chief Human Resources Officer at the pharmaceutical and med-tech company Fresenius Kabi AG based in Bad Homburg, Germany. Prior to that, Schulte-Noelle acquired relevant experience at the private equity firm Permira Beteiligungsberatung GmbH in Frankfurt and as a financial analyst at Goldman Sachs International, an investment bank in London. Schulte-Noelle was born in Cologne. He holds a Bachelor’s degree in business law from the University of Bayreuth and a MBA from the Graduate Business School INSEAD.

About Ottobock

Ottobock, the German global market leader, develops med-tech products and fitting solutions in the Prosthetics, Orthotics and Human Mobility divisions for people with limited mobility and provides patient care in the MedicalCare division. The company’s international activities are coordinated from the head office in Duderstadt. Subsidiaries in more than 50 countries offer “Made in Germany” quality worldwide and employ more than 7,000 people. A family-managed company since its founding in 1919, Ottobock has also supported the Paralympic Games with its technical expertise since 1988.