Stratec announces new chief executive

Stratec Biomedical Systems has revealed that Marcus Wolfinger will become the company's chief executive in April next year.

In a statement, the German company said Mr Wolfinger was elected by the supervisory board and is due to begin his new role on April 1st 2011.

The executive is currently chief financial officer at Stratec and has been a member of the firm's board of management for 11 years.

Current chairman and chief executive Hermann Leistner is due to retire from his position at the end of March next year, ending his career after more than 30 years at Stratec.

The company said Mr Leistner will continue to be involved in an "advisory capacity" following his departure.

In further changes, Dr Robert Siegle is set to take up a position on the board of management from February 1st and will be responsible for human resources, compliance and legal affairs.

Stratec recently announced total sales of 26.1 million euros (21.8 million pounds) for the third quarter of 2010, up 34.3 percent on the corresponding period last year.