Bilfinger CEO quits after second profit warning since June

FRANKFURT Mon Aug 4, 2014 1:00pm EDT

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FRANKFURT Aug 4 (Reuters) - German industrial services and construction group Bilfinger SE said Chief Executive Roland Koch would quit after he took responsibility for a second cut in its 2014 earnings outlook since end-June.

The group now expects adjusted earnings before interest, taxes and amortisation (EBITA) of 340 million euros ($456 million) to 360 million euros, down from a previous target range of 380-400 million announced on June 30, when it had already cut its outlook.

Koch offered to step down on mutually agreed terms, the company said. Koch said in a statement that he was taking responsibility for the two profit warnings.

Herbert Bodner, a supervisory board member and former CEO, will replace Koch on an interim basis, Bilfinger said.

($1 = 0.7456 Euros) (Reporting by Ludwig Burger; editing by Jane Baird)

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