Braking systems manufacturer Knorr-Bremse has announced that Dr Lorenz Zwingmann, 52, executive board member responsible for finance, IT, controlling and processes, is to leave the company on 31 December 2017. The company adds that he leaves on the very best of terms, opting not renew his contract in order to take up a new professional challenge in his North German homeland. Dr Zwingmann intends to meet his contractual obligations until the termination date, while the supervisory board, noting its regret at his decision, said it would make a decision on a successor as rapidly as possible.