Bloomberg reported that Hiller, who had led the German company since 2017, was fired after what Deutz said were irreconcilable differences with its supervisory board.
Dietmar Voggenreiter, chairman of the supervisory board, said in a statement: “The supervisory board would like to thank Dr Hiller for the work he has done.
“He has set the decisive course and put the company on the right track to successfully meet the challenges of the future."
Deutz says the path of transformation that has been taken under Hiller's leadership will be continued "in principle".
The company adds that, with its transformation into a technology-open manufacturer of sustainable drive systems, a repositioning has been achieved that strengthens the trust of market partners and investors. It says that this challenging task was accompanied by an increase in almost all of Deutz’s key figures.
Deutz says that Hiller repositioned the company in China and guided it safely through the Corona crisis.
"With his committed and participatory leadership style, Dr Hiller activated new impulses in many areas of the company," it added. "With his contribution, he has enhanced the reputation of DEUTZ in public, with customers, employees and in relation to the capital market."
Bloomberg reported that chief financial officer Sebastian Schulte is taking over as CEO.
