30 Mar 2020
Group’s top executive is leaving amid "further rationalisation" to respond to the Covid-19 crisis
Munich, Germany – KraussMaffei Group’s top executive is leaving the German machinery maker amid "further rationalisation" to respond to the Covid-19 crisis.
Frank Stieler will resign as CEO of the injection moulding machinery maker on 31 March and chief operating officer Michael Ruf will take the CEO spot, said a KraussMaffei statement 26 March.
According to the German group, Ruf will streamline the organisation in view of the outbreak of Covid-19.
“This allows further rationalisation to deal with the challenges from the current complicated and volatile economic situation and the impact from the [coronavirus] crisis," KraussMaffei added.
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