On June 9, hydraulics manufacturer Bosch Rexroth announced that President and CEO Gregory Gumbs will leave the company on July 1.

Gumbs joined the company in 2020 and has “successfully led the increased growth of the North American region to record achievements, improved competitiveness in the region, and established a strong customer-focused and people culture,” Bosch Rexroth said in a company news release.

Reinhard Schaefer, current executive board member, is expected to join the North American board to support the transition and identify the company’s next regional CEO.

“I would like to thank Gregory Gumbs for his leadership in the region,” Dr. Steffen Haack, CEO of Bosch Rexroth AG, said in the news release. “The North American region is of critical importance, and the leadership team in the region has a strong foundation to continue the significant growth path we are on.”