The 61-year-old informed Südzucker AG's supervisory board in mid-August that he would not be renewing his executive board contract, which expires on 31 May 2024. "After almost 34 years, it is with great regret that we respect Mr Kölbl's decision," said Dr Stefan Streng, chairman of the supervisory board. After holding various positions, Kölbl has been a member of the executive board since June 2004. There he is responsible for controlling, finance, investor relations, legal affairs, purchasing, real estate and insurance as well as taxes.