Shaping the future with our human capital

Daniel Korioth, Bosch Group representative in Hungary and Adria region (and nominated for BBJ Expat CEO of the Year 2021) is leaving the country to become president of Bosch Turkey and its representative in the Middle East. We asked him to reflect on his five years here.

BBJ: First of all, congratulations on this new role. When do you start and what are your responsibilities?

Daniel Korioth: Thank you very much. I will take over the Presidency of Bosch Turkey and the Middle East role from my predecessor Steven Young on August 1. However, we will start with the transfer process starting July 1. As President of Bosch Turkey, I will oversee the company’s operations in the country while acting as the Middle East representative. I will serve over 16 markets and over 18,000 associates.

BBJ: How would you rate your stay with Bosch in Hungary? What have been the big successes and (besides COVID) the biggest challenges?

DK: It’s hard to pick one because so many projects that I could be proud of have progressed in recent times. Of course, this is mainly thanks to our hardworking and persevering colleagues, and I am very grateful to them for their work. But to be precise, the fact that the Campus 2 project (the extension of our engineering center) started during my tenure as representative of the Bosch group in Hungary is particularly edifying. It will be one of the most advanced development centers in the world. But every Bosch site in Hungary has achieved something definitive and exceptional over the past three years. Perhaps most importantly, the Bosch team in Hungary has grown steadily since I’ve been here. According to the latest figures, we now have more than 15,500 associates.

BBJ: How has the Hungarian economy changed during your stay here?

DK: During my stay in Hungary, the economy improved and developed a lot. It also contributed to the growth and stabilization of the Bosch group in Hungary. We shape the future with our highly qualified and knowledgeable people. I firmly believe that the critical factor in our ultimate success is our human capital. For this reason, we invest a lot in people and also focus on education.

BBJ: Hungary has a reputation as an investor-friendly country, but there is always room for improvement. What would you change to make things better here?

DK: I think that the management of the company must be more human-centered, and we must place even more trust in the associates.

BBJ: Does Bosch have more investments in store for Hungary?

DK: Hungary is a strategically important location for the Bosch Group globally. Significant strategic investments are underway at each local Bosch site. The Bosch Group’s key investment project in Hungary continues steadily, but construction is expected to be completed later than originally planned due to the pandemic.

We announced in April that Bosch is investing in a new regional shared services center in Vecsés [22 km southeast of the center of Budapest, close to Ferenc Liszt International Airport]. This is another important step for the Bosch Group in Hungary and the region. It also demonstrates the strong confidence we have in the competence of Hungarian professionals.

BBJ: What will you miss the most in Hungary?

DK: I have an exceptional team in Hungary; they are extremely valuable and knowledgeable people and my greatest support here. I will really miss them.

BBJ: Do you have a favorite restaurant or place to visit in the country?

DK: My wife and I live in Budapest; I find this city very beautiful and we really enjoy our stay here. I can’t mention a single place because we love everything here. I am impressed with Matthias Church, for example. We love to walk with our dogs on Margaret Island and Óbuda Island and cycle the streets of Budapest with our electric bikes. Every time we have visited the countryside I have been amazed at how despite its size how colorful the country is, how many different cultural traits and traditions can be seen all around.

BBJ: What would be your advice for your successor?

DK: István Szászi becomes the representative of the Bosch group in Hungary and in the Adria region from July. He has been with the group for 17 years and on April 1, 2019 he was appointed head of the Engineering Center Budapest, which operates within Robert Bosch Kft. István had been an expat since spending a few years in Reutlingen and Abstatt, Germany at Bosch. He will be the first Hungarian representative of the Bosch Group in Hungary; it is a great success. I am proud of him and wish him the best. Together, we are helping to build a strong and competitive Hungary. I think it’s essential that no matter what country you go to as a representative, you try to get to know as many people as possible, inside and outside the company. You need to talk to your coworkers to get a feel for how to run the business. You also have to learn about cultural differences. I find it very important to build team spirit, to keep a positive approach and to take up new challenges with great caution but with just as much optimism.

BBJ: Is there anything else you would like to add?

DK: I would like to thank Budapest and Hungary for welcoming me and my family over the past five years. I would especially like to address all those who are part of the Bosch Group family in Hungary for their outstanding performance and dedicated work.

This article first appeared in the print issue of the Budapest Business Journal on July 2, 2021.

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