Syncron Announces Friedrich Neumeyer to Become CEO

Former proALPHA and SAP executive positions Syncron for next stage of growth and innovation

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Jun 25, 2020, 11:00 ET

STOCKHOLM, June 25, 2020 /PRNewswire/ -- Dr. Friedrich ("Fritz") Neumeyer will join Syncron as Chief Executive Officer, effective 1 Aug. 2020. He will succeed Anders Grudén, who is stepping down as CEO but will continue to serve in an advisory role.

Dr. Neumeyer has extensive experience leading enterprise software companies and a proven track record of driving transformative growth, increasing vertical domain expertise and improving the customer experience. Most recently, he served as the CEO of German ERP vendor proALPHA for six years, where he led the company to a market-leading position, tripled revenue to more than €150 million and doubled the number of employees to more than 1,000. Prior to proALPHA, Dr. Neumeyer served in leadership roles at Software AG and SAP, after beginning his career at McKinsey.

"On behalf of Syncron's Board of Directors, I am thrilled to welcome Fritz Neumeyer as the company's next CEO," said Léo Apotheker, Chairman of the Syncron Board. "His leadership experience in enterprise software for industrial manufacturers, his laser-sharp focus on customer satisfaction and his proven track record of outperforming the competition make Fritz ideally suited to lead Syncron in its next chapter."

Dr. Neumeyer joins Syncron at a time when manufacturers are facing unprecedented changes and economic impact from the COVID-19 health crisis. As manufacturing executives identify areas that can offer financial stability, they are increasingly turning to after-sales service.

After-sales service, which includes maintenance, repairs, spare parts and other services after the initial sale of a product, offers manufacturers a unique opportunity to differentiate from the competition, enhance the customer experience and increase financial performance. According to a Deloitte report, the average operating margin from after-sales service is about 2.5 times the operating margin for new equipment sales. And as manufacturers face declining new product sales and less demand, the service supply chain should be optimized to provide stability and create value in otherwise uncertain times.

"I am excited to join the world-class Syncron team at this exciting time in both the company's history and the industry as a whole. I am confident the team, technology and market opportunity will enable us to fuel tremendous growth and success," said Dr. Neumeyer. "With an increased focus on after-sales service optimization, Syncron is uniquely positioned to provide the technology that drives manufacturers' success for years to come. I can't wait to join the immensely talented Syncron team as we lead manufacturers on this journey."

The Board of Directors thanks Anders Grudén for his immense contributions to the success of Syncron, where over the past 16 years, he has led the company from its early beginnings to becoming an undisputed leader in SaaS solutions for after-sales service excellence.

"It is a tribute to Anders' leadership that Syncron has become a truly global company, servicing a top-tier customer base around the world. He has been the architect of the platform that will be the launchpad for the next phase of our accelerated development," Apotheker added.

Going forward, Grudén will continue to stand shoulder-to-shoulder with Syncron, sharing his insights and providing advice as required.

"I'm extremely proud of what we have accomplished together to establish Syncron as a global market leader and I can't imagine a better choice than Fritz to lead the company on its continued growth journey," Grudén said.

Dr. Neumeyer has lived and worked in Italy, Germany, Belgium and the U.S. He will relocate to Sweden and will be based out of the company's Stockholm headquarters. Dr. Neumeyer studied nuclear physics and has a Ph.D. from the Technical University of Darmstadt.

About Syncron
Syncron empowers the world's leading manufacturers to maximize product uptime and deliver exceptional after-sales service experiences, while driving significant revenue and profit improvements. From industry-leading investments in research and development, to providing the fastest time-to-value, Syncron's award-winning, cloud-based service parts inventory, price and uptime management solutions are designed to continually exceed customer expectations. Top brands from around the world trust Syncron to transform their after-sales service operations into competitive differentiators. For more information, visit syncron.com.

SOURCE Syncron