Simone Reinhold (53), until now Managing Director of Group Marketing, leaves the company after 25 years.

Simone Reinhold (53), until now Managing Director of Group Marketing, leaves the company after 25 years.

Low expectations can sometimes be very beneficial for near-term stock performance as has been the case for US industrial stocks so far this year.

Low expectations can sometimes be very beneficial for near-term stock performance as has been the case for US industrial stocks so far this year.

The S&P equity risk premium (ERP; see black line below) widened swiftly from 3¾% to 4¾% in 4Q18.

The S&P equity risk premium (ERP; see black line below) widened swiftly from 3¾% to 4¾% in 4Q18.

Simone Reinhold (53), until now Managing Director of Group Marketing, leaves the company after 25 years.

Low expectations can sometimes be very beneficial for near-term stock performance as has been the case for US industrial stocks so far this year.

The S&P equity risk premium (ERP; see black line below) widened swiftly from 3¾% to 4¾% in 4Q18.

Simone Reinhold (53), until now Managing Director of Group Marketing, leaves the company after 25 years.