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Control of CZECHOSLOVAK GROUP handed over to Michal Strnad, the founder's son

With effect from 26th January 2018, The CZECHOSLOVAK GROUP industrial holding is now controlled byMichal Strnad, the son of the founder Jaroslav Strnad. This was done on the basis of a contract for the transfer of 100% of the shares of the CSG holding company. Michal Strnad has been managing the CSG as Chief Executive Officer.

Michal Strnad, CEO and owner of CZECHOSLOVAK GROUP, states: "The key values ​​for the holding are stability and development of the capacities already in it. Transferring ownership from one generation of our family to another will not present a major change for our financial or business partners. I have already been the owner of, for example, Retia or Kovosvit MAS, for some time. There are no changes in the management team. In relation to the member companies of the group, the key principle is that their management has a high degree of autonomy and is responsible for the running of production and trade. It will remain that way in the future. "

Jaroslav Strnad, the founder and former owner of CSG, says: "I am proud to hand over the result of 20 years of hard work to Michal. As the CEO of the holding, he proved that CSG will be in good hands under his leadership. Just as it has already been, all the responsibility and management work rests with him. The move, on which me and Michal agreed – the transfer of one hundred percent of the shares to him – is an expression of the principle that whoever manages the business should have full responsibility for it, including ownership. "

Jaroslav Strnad, the founder of the CSG holding, adds, "I personally want to continue to look for new investment and business opportunities of a strategic nature. I will not interfere with the management of the holding or its companies, and I do not want to, which has been the reality for several years. "

Michal Strnad (25) has been working in the family business since he was 15 years old. He started with a part time job in a warehouse with army gear. At the age of 18 he founded and managed two companies that are still active. He also invests separately in start-up projects. He has worked for the CSG full time since he was twenty years old. He thus walks in the footsteps of his father, who began his business shortly after returning from the military service.

Even after generational change in ownership within the Strnad family of entrepreneurs, the CSG does not rule out further investment focused on small and medium-sized enterprises with an interesting product and export potential.

 

About CZECHOSLOVAK GROUP

CZECHOSLOVAK GROUP (CSG) is a holding that builds on the tradition of Czechoslovak industry, supporting and further developing activities of Czech and Slovak companies in the field of civil and defence industrial production. The portfolio of CSG includes manufacturing of machinery products for automotive, railway, aerospace and watchmaking industry, as well as specialized vehicles, off road trucks, weapons, weapon systems, and ammunition. The group puts a great emphasis on the quality of its products and services, as well as export activities. Products made by the companies of the holding can be seen on all continents and the number of customers is growing steadily. In 2017 the companies of the holding had over 8000 employees and in 2016 generated a turnover of 15.4 billion CZK.

Press service of CZECHOSLOVAK GROUP

Contact person: Andrej Čírtek, andrej.cirtek@czechoslovakgroup.cz , +420 602 494 208