“I want HOERBIGER to remain a company where people work with joy and pride.”

The HOERBIGER Foundation has been operating since 1989. Can you tell us something about its history?

Dr. Andreas Hünerwadel — The HOERBIGER Foundation was established in 1982 by Martina Hörbiger, who was the owner and chairwoman of HOERBIGER at the time. Martina Hörbiger, wife of Alfred Hörbiger and daughter-in-law of founder Hanns Hörbiger, took over the company’s leadership after her husband’s death in 1945. It is thanks to her clear vision and entrepreneurial spirit that HOERBIGER is now a global player in a variety of industries.

The Foundation was established with the clear intention of safeguarding the independence and long-term existence of the group. After Martina Hörbiger’s death in 1989, 50 percent of the shares in HOERBIGER were transferred to the HOERBIGER Foundation, based in Switzerland. Since Martina Hörbiger had no children, she divided the other 50 percent equally between her two nieces, one of whom is the current family shareholder, Ms. Christiana Hörbiger.

Over the years, the Foundation and Board of Directors at that time gradually restructured the widely diversified company into a classic holding company, thereby laying the foundation for today’s HOERBIGER Group. In the course of this transformation, the Foundation gradually acquired additional shares. Today, the family shareholder, Ms. Christiana Hörbiger, still holds 25 percent of the shares in the HOERBIGER Group, while the Foundation holds 75 percent.

What is the mission of the HOERBIGER Foundation today?

AH — It is the same mandate that has been in place since our inception: The Foundation secures the independence of the HOERBIGER Group and enables long-term, sustainable business practices. The Board of Trustees is the guardian of long-term thinking. The Foundation also promotes growth through innovation by supporting research and development within the HOERBIGER Group. And it takes responsibility for its employees, in particular by supporting their professional development.

What do you see as the benefits and drawbacks of this type of ownership for a corporation?

AH — The Foundation acts as an insurance policy for the future of HOERBIGER. Most of the annual dividends remain in the Foundation to build up financial reserves for unforeseen challenges or opportunities. This ensures that HOERBIGER remains independent in the long term and is able to grow sustainably.

Another advantage is the stability that we provide as longterm owners. I always describe HOERBIGER as a family- owned company without the usual problems associated with traditional family-owned businesses. We don’t have changing ownership structures or disputes over inheritance that cause disruption within the company.

One of the challenges is that, as a foundation, we cannot take advantage of the capital market. This means that we have to generate most of the funding for our growth ourselves. We are also not exposed to the external pressure that publicly traded companies face, which often has a positive effect on the organization.

And how do you deal with that?

AH — The lack of external pressure from the capital markets means that the Foundation has to set high expectations for HOERBIGER. To ensure that the Group remains competitive, we have therefore defined a clear ownership strategy. This includes principles such as diversification into at least three strong business areas, clearly defined growth and profitability targets, and a restriction on debt.

^{Dr. Andreas Hünerwadel with Ms. Christiana Hörbiger, family shareholder and Vice President of the Board of Trustees of the HOERBIGER Foundation.}

There is some overlap in terms of who serves on the Board of Trustees and the Board of Directors. Can you explain why?

AH — The overlap is intentional to make sure everyone’s on the same page when it comes to strategy. We’ve seen that in other foundations, having separate boards can lead to conflicting goals. To avoid that, we decided that the majority of the Board of Trustees should be on the Board of Directors and have the majority there too.

What are the respective roles of the Board of Directors and the Board of Trustees?

AH — Our role as the Board of Trustees is to select a strong management team and ensure that it can work without interference and has the resources it needs to meet the expectations of the owners.

The Board of Directors, which also includes experienced market and technology experts, is responsible for the strategic leadership, and the Executive Board is responsible for its operational leadership.

How does this cooperation work in practice?

AH — Within the framework set out in the owner strategy, the Board of Directors and the Executive Board enjoy considerable freedom to manage the Group successfully in both strategic and operational terms. Key decisions, particularly those relating to major investments or acquisitions, must be approved by the owners. This allows us to preserve the Group’s entrepreneurial freedom while at the same time setting clear guidelines for sustainable and long-term successful development.

The Foundation also provides direct support for projects that benefit the Group. Can you give us some specific examples?

AH — On the one hand, the Foundation supports the systematic strengthening of technological expertise within the Group, particularly in strategically important future technologies. One example of this is our long-standing partnership with Johannes Kepler University (JKU) in Linz. At the JKU HOERBIGER Research Institute for Smart Actuators, we are working with Dr. Florian Poltschak, the institute’s director, and his team to develop solutions for future systems that rethink intelligent motion. Support from external research organizations is a key factor in the Group’s innovative strength.

With the establishment of the Foundation, we have followed in the footsteps of the Hörbiger family of entrepreneurs together with the current family shareholder, Ms. Christiana Hörbiger. It is clear to both Ms. Hörbiger and the Foundation that we have assumed responsibility not only for the family business, but also for the family legacy. That is why we are working in partnership with the Vienna Technical Museum to preserve and showcase the company’s history in a professional manner. We are keenly aware that in today’s world, a company’s origins and history play a central role for its employees, partners, and customers.

You have been a member of the Board of Trustees since 2009. How have you seen HOERBIGER changing during this time?

AH — HOERBIGER has developed considerably in various areas during this time. For example, management has been professionalized at all levels. At the same time, the business portfolio has changed. Less future-oriented business areas have been divested, while the Group has made targeted investments in technologically demanding areas. As a result, HOERBIGER’s technological level has risen steadily, which has also had a positive impact on the customer portfolio.

Fortunately, what has not changed is the special corporate culture that distinguishes HOERBIGER. Despite its global presence, HOERBIGER remains a family-oriented company where every single person can make a difference. This strong sense of identification and belonging among our employees continues to be a defining element.

HOERBIGER is celebrating its 130th anniversary this year. If you had one wish for the future of the company, what would it be?

AH — My wish for the future of HOERBIGER is that we successfully complete the ongoing transformation. In particular, this involves overcoming challenges in traditional industries such as the combustion engine and oil sectors while establishing an additional, strong foothold in a future-oriented market. This will enable us to remain profitable and diversified in the long term – in line with the mission of our Foundation.

I also want HOERBIGER to remain a company where people enjoy working and take pride in what they do. From the Board of Trustees to the Board of Directors and the Executive Board to employees at all levels, enthusiasm for HOERBIGER should remain strong. After all, this is the foundation of our long-term success – and therefore a decisive factor in successfully fulfilling our mission as a foundation.