The majority owner only returned to the supervisory board last year.
The majority owner of the brake manufacturer Knorr-Bremse, Heinz Hermann Thiele, is dead. The 79-year-old died unexpectedly in Munich on Tuesday, the company announced on Tuesday evening.
Share in Lufthansa
The self-made billionaire also held a double-digit stake in the largest German airline and AUA parent Lufthansa. Thiele bought his employer Knorr-Bremse in 1985 and, as CEO, expanded it into a billion-dollar company.
In 2018 he brought the company to the stock exchange. Only last year Thiele returned to the supervisory board and acted as deputy chairman.
“The Executive Board and the Supervisory Board mourn the loss of a global and visionary entrepreneur who has shaped the global rail and commercial vehicle industry for decades,” said Knorr-Bremse.
“Heinz Hermann Thiele dedicated his whole life to the service of the company.”