Peter Bijvelds, founder and CEO of the Brabant company Ebusco, has announced that he is resigning with immediate effect.
Together with fellow CEO Michiel Peters, he will leave the field at the bus manufacturer from Deurne, which is in trouble. The departure of both leaders comes at a time when Ebusco is struggling with serious challenges and seems to be facing an uncertain future. In addition to the changes in management, the Supervisory Board also announced the departure of Ruud Spoor, member of the Board, for health reasons. Saskia Schatteman, also member of the Board, will step down for personal reasons.
Bijvelds' role will be taken over by German public transport veteran Christian Schreyer. Schreyer, who has more than 25 years of experience in the sector, previously worked for Deutsche Bahn, among others, where he held various management positions. His appointment is seen as an attempt to breathe new life into the troubled Ebusco, which has been struggling with both production and financial problems for some time.
half-year figures
Ebusco’s problems have been visible for some time, but recently gained momentum when the company presented disappointing half-year figures. In the first half of 2024, the company delivered only 98 electric buses, far fewer than the hundreds originally planned. This lagging production capacity has not only led to a sharp drop in revenues, but also to significant fines for failing to meet delivery agreements with customers. As a result, Ebusco suffered a loss of almost 65 million euros in the first half of this year, on a turnover of only 38 million euros.
The Brabant company Ebusco, based in Deurne and listed on Euronext (EBUS), has announced that Christian Schreyer has been nominated as the new Chief Executive Officer (CEO) in the Management Board.
The company’s financial problems have also had an impact on employment. In an effort to cut costs, Ebusco has already announced that it will reduce the number of branches from seven to five. The company currently employs 770 people, a decrease of around a hundred employees compared to the end of last year. It is feared that more jobs will be lost in the near future if the situation does not improve soon.
The departure of Bijvelds and Peters does not come as a complete surprise, given the pressure the company is experiencing. The Ebusco supervisory board had previously stated that a change of course was necessary to get the company back on track. The appointment of Schreyer seems to be a crucial step in this process. In a press release, the supervisory board stated that several major shareholders have expressed their support for Schreyer's appointment, making it virtually certain.
De problems at Ebusco are a clear sign that even in a growth market like electric vehicles, success is not a given. The company, once seen as a pioneer in the development of electric buses, has in recent years been confronted with the harsh reality of production problems, rising costs and disappointing performance. The challenge for Schreyer will be to get production in order, restore customer confidence and make the company profitable again.
The Supervisory Board has announced that an extraordinary shareholders' meeting will be held shortly to make Schreyer's appointment official. It is expected that this appointment will go ahead without opposition, given the support already expressed by major shareholders. Schreyer will take on a huge responsibility as he takes the helm of a company at a crucial crossroads in its existence.
While the future of Ebusco remains uncertain, it is clear that drastic measures are needed to save the company. The coming months will be crucial for the bus company, and many eyes will be on Schreyer and his ability to overcome the challenges facing Ebusco.
CEO
Christian Schreyer, born in 1968, will join the company as CEO and Chairman of the Executive Team on September 2. Schreyer brings more than 25 years of experience in public transport and logistics, gained at companies such as Deutsche Bahn, DB Schenker Rail, Transdev and Go Ahead. He has led significant business transformations throughout his career and has deep industry knowledge and customer insights. Schreyer holds a Master of Laws from Ludwig-Maximilians-Universität Munich and completed a General Management Program at Harvard Business School in the United States.
