Erwo Holding/Hoftex Group
Daniel Köster (Source: Erwo)
Effective November 13, 2023, Daniel Köster will join the management board of Erwo Holding and the Südwolle Group . Köster's appointment marks the next important step in the Hoftex Group's management transition. In May 2023, Klaus Steger, the longstanding CEO of Erwo Holding and Hoftex Group, announced that he would step down from the Management Board of both companies at the beginning of 2024 in accordance with internal policies of the family and the company regarding the retirement age. Manuela Spörl, the current CFO, is the designated successor as CEO at both companies, and Daniel Köster will succeed Manuela Spörl as CFO at both companies.
Until the change at the top of both companies is completed, the Management Board of each company will be composed of 3 members.
Daniel Köster is a proven financial expert and brings with him his extensive experience in finance, accounting, treasury, taxes and controlling to both companies. He previously worked at Stiebel Eltron GmbH, Holzminden/Germany, a family-owned company, where he had served as Group CFO and member of the extended Management Board since the end of 2019.
Erwo Holding AG, Schwaig/Germany, serves as the parent company of Südwolle Group, Nuremberg/Germany, and holds significant stakes in Hoftex Group AG, Hof/Germany. The latter is a holding company for numerous medium-sized textile enterprises. The group reported consolidated sales of €153.8 million in 2022, providing employment for about 1,000 worldwide. With history stretching over 170 years, Hoftex maintains production units across Germany, Europe, North America, and China.
Südwolle Group is a leading worsted yarn producer which employs around 3,100 at its production sites across Germany, Bulgaria, China, Vietnam, Italy, Poland, and Romania.
