Heidelberg is looking for a new chief financial officer with long-serving incumbent Dirk Kaliebe set to step down at the end of September.
The press manufacturer’s supervisory board said that it had consented to the “amicable termination” of Kaliebe’s current contract, which had originally been due to run until 2021.
Kaliebe has worked at Heidelberg since 1998, and became a member of the management board in 2006.
He plans to take a sabbatical before looking into “new entrepreneurial challenges”.
"It was with great regret that we learned of Mr Kaliebe's decision," said supervisory board chairman Dr Siegfried Jaschinski, who praised Kaliebe for his instrumental role in Heidelberg’s restructuring due to the financial crisis, and the implementation of a new capital structure in recent years.
Kaliebe’s departure will result in chief technology officer Stephan Plenz becoming the longest-serving management board member, and the only main board member who pre-dates the arrivals of chief executive Rainer Hundsdörfer and chief digital officer Dr Ulrich Hermann two-and-a-half years ago.
Heidelberg’s share price has fallen to a five-year low of €1.28 (£1.14) this week. (52-week high: €3.13.)