Thomas Oetterli has decided to step down from his function as CEO, effective October 31, 2026, and hand over the Chairmanship of the Board of Directors. “After the successful implementation of the Next Level performance program, the structural measures initiated to consolidate the sites and the acquisition of Barmag, the time has come to hand over responsibility to new hands,” explains Thomas Oetterli.
The eventual separation of the functions of CEO and Chairman of the Board of Directors was planned since Thomas Oetterli took office.
The Board of Directors thanks Thomas Oetterli for his great commitment and his important contributions to the strategic and operational development of Rieter. It is convinced that the measures initiated will strengthen the competitiveness of the Group and create a solid foundation to benefit from a future market recovery.
Daniel Lippuner will take over as CEO of Rieter on November 1, 2026. He combines broad international leadership experience with in-depth knowledge of the textile machinery and components industry. As former CEO of the Saurer Group and previously as Head of Oerlikon Textile Components, he led businesses along the value chain of spinning machines, yarn processing and textile components. As Chairman of the Board and co-owner of Heberlein Technology, he also remained closely connected to the chemical fiber industry. His experience in transformation, technology and quality management, operational leadership and Asian markets is particularly relevant for Rieter with its established short-staple fiber business and the newly acquired man-made fiber business.
Carl Illi will assume the role of Chairman of the Board until the next Annual General Meeting on April 14, 2027. Carl Illi has been a member of the Rieter Board of Directors since 2017 and is a recognized textile industry expert.
With the acquisition of Barmag in February 2026, Rieter has expanded its traditional business focused on short-staple fibers to include the attractive man-made fibers segment. The transaction strengthens the focus on the technology leadership of the Rieter Group, opens up additional growth opportunities and creates a broader basis for digital solutions in the textile industry.
