The 2021 fiscal year was impacted by the death of Heinz Hermann Thiele, majority shareholder and member of the Supervisory Board. Mr. Thiele passed away suddenly and unexpectedly on February 23, 2021. With his entrepreneurial personality, his leadership, his tireless effort and his constant striving toward progress, Mr. Thiele shaped Knorr-Bremse like no one before him. Selflessly and in keeping with his enormous passion for the Company, he had previously taken it upon himself to advise and counsel the Executive Board on its management of the pandemic’s economic impact from a position on the Supervisory Board.

Mr. Thiele has bequeathed us an outstanding legacy for which we are very grateful. For the Supervisory Board, this is an obligation to guide the Company to a future of further success together with the Executive Board. Upholding his life’s work is the expectation and duty of the Supervisory Board.