FRANKFURT Aug 4 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
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)