Matthias Rust leaves IVU’s Executive Board, that since 1st November will be composed of Martin Müller-Elschner and Leon Struijk

From 1 November 2024, the Executive Board of IVU Traffic Technologies will see Leon Struijk taking over the technical and operational department as COO, managing IVU together with the CEO and CFO Martin Müller-Elschner.

Matthias Rust, in IVU since 1993 and member of the Executive Board since 2016, is leaving the company, as announced by IVU in a press note.

IVU announces Executive Board’s change

In 2023, IVU Traffic Technologies AG said it recorded the “most successful financial year in the company’s history”: revenue increased year-on-year by 8.2% to €122.5 million, gross profit by 11.7% to €101.1 million and operating profit (EBIT) by 6.1% to €15.8 million.

German public transport operator Stadtwerke Münster in 2023 chose to rely on the IVU.suite, helping to counter the shortage of skilled labour. Last year also Stadtwerke Solingen had chosen IVU to achieve a standardized management of all bus operations. In the last couple years IVU, charging management partner of Daimler Buses, opened offices in Rome and Scandinavia.

Matthias Rust will leave the Executive Board of IVU Traffic Technologies AG with effect from 31 October 2024. The separation is by mutual agreement. Matthias Rust has been with IVU since 1993 and has been a member of the management since 2005­ and a member of the Executive Board since 2016.

 “Matthias has played a key role in the development of IVU into an internationally successful software company with over 1,000 employees,” says Bert Meerstadt, Chairman of the Supervisory Board of IVU AG. “The Supervisory Board and the company would like to thank him for his successful work for the company over the past 30 years, and we wish him all the best in his private and professional life!”