Belgian bus manufacturer Van Hool has appointed Marc Zwaaneveld as its co-CEO alongside current CEO Filip Van Hool.
While Filip Van Hool will focus on managing its day-to-day activities, Zwaaneveld focus will be to accelerate its recovery from COVID.
Van Hool says that its finances were hit hard during the pandemic due to disrupted supply of materials, high inflation and a decline in coach demand.
Van Hool says the sharp decline in demand for coaches was heightened by geopolitical situations and inflation that disrupted material supplies.
Zwaaneveld is known for his experience in managing companies that need a boost.
Van Hool says that initial recovery of volumes and order books are already in process, with Zwaaneveld to stay on as co-CEO until the recovery plan is complete.
Having been founded in 1947, Van Hool still has more than 3,500 employees worldwide, working at its two production sites in Koningshooikt, Belgium and Skopje, North Macedonia.