WINTERTHUR, Switzerland — Sulzer CEO Klaus Stahlmann will resign from his position after three years in the post, according to a press release.

Stahlmann is leaving to pursue other opportunities outside the company, noted the release.

The release stated that Stahlmann led Sulzer to operate as a market-oriented company on a global scale. The Sulzer Full Potential program aims to position the company as a leader in its key markets of oil and gas, power and water.

The board of directors is searching for a new CEO, reported the release.

You can find the entire release here.