Dr. Frank Stieler will resign from his office as CEO of KraussMaffei Group GmbH on March 31 2020, and Dr. Michael Ruf, present COO of the company, will take over the position from April 1, 2020.
Since 2018 KraussMaffei Group GmbH is part of KraussMaffei Company Limited, a public company listed on the Shanghai Stock Exchange. Dr. Stieler (pictured, right) has been CEO of KraussMaffei Group GmbH since July 2015 and of KraussMaffei Company Limited since May 2019.
Under the leadership of Dr. Ruf, (pictured, left) the company will streamline its organisation. This allows further rationalisation to deal with the challenges from the current complicated and volatile economic situation and the impact of the Coronavirus crisis.
Dr. Ruf commented: “We are ready to face such challenges. I enjoyed working with Dr Frank Stieler, thereby creating the concepts for the changes together. I am grateful that he developed the company to this level.”
The Chairman of the Board, Mr. Bai Xinping, added: “Dr Stieler has refocussed and repositioned KraussMaffei as the plastic industry pioneer. He has managed the company to deal with the current challenges. We thank him for his work and wish all the best for his future.”