Hubertus M Mühlhäuser is resigning as director, president and chief executive of foodservice equipment supplier Welbilt.
Effective 31 August 2018, Mühlhäuser is leaving the company to become the chief executive and a director of CNH Industrial, a global manufacturer of agricultural and construction equipment.
Welbilt's board of directors has appointed chief operating officer Josef Matosevic to assume the role of interim president and chief executive on Mühlhäuser's departure until a replacement can be appointed, with both internal and external candidates being considered.
Cindy Egnotovich, chairperson of Welbilt's board of directors, said: "The board thanks Hubertus for leading Welbilt through the successful spin-off from the Manitowoc Company, establishing the strategic roadmap for the company and building out the strong management team that has been executing this strategy.
"In only three years, Hubertus and his team have created tremendous shareholder value while rebuilding Welbilt, putting it on the path again to be the leader in the commercial foodservice industry. The progress that this team has made creates a very strong foundation and strategic direction for the next chief executive officer to build upon. We wish him all the best in this next chapter of his career."
"Josef is the best person to ensure stability and continuity to Welbilt's operations and customers, providing a seamless transition as we finalize our decision for the chief executive officer position."
Matosevic added: "I would like to thank the board for placing their trust in me to lead this great company during the transition."