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Wabererʼs CEO resigns

Listed Hungarian hauler Wabererʼs on Monday announced the resignation of its CEO, Robert Ziegler, according to a report by state news wire MTI.

Ziegler, who has led a turnaround at the company since early 2019, is also resigning from Wabererʼs board.

CFO Barna Erdélyi has been appointed interim CEO.

Erdélyi has "a long management history with the company and valuable expertise in navigating through challenging times", said chairman Gerard van Kesteren.

In a separate disclosure published early Tuesday, Wabererʼs announced that it had decided to park a "significant portion" of its international fleet to cut costs. The company also said it is "rationalizing its workforce to match the decline in demand" by introducing a hiring freeze, renegotiating wages and putting staff on unpaid leave. Wabererʼs noted that labor unions in the company were involved in designing the measures.

"I am confident that the measures introduced today strike a careful balance between the necessary improvement of our financials and to maintain service level to our clients, and ensures the sustainability of the operations in the current challenging times," Erdélyi said.