Corporate press releases

KraussMaffei strengthens its Executive Committee - Dr. Michael J. Ruf to join KraussMaffei on April 1, 2019
Munich, 17.01.2019 – In connection with the recent listing on the Shanghai Stock Exchange, the KraussMaffei Group KraussMaffei) is expanding its management team. Dr. Michael Ruf (54) will become a new member of the Executive Committee on April 1. He will lead the four segments and the units Global Procurement, Facility Management, Group Development Center MidTech and Business Excellence.

The Executive Committee, comprising the CEO, CFO and the four segment heads, is responsible for managing the KraussMaffei Group. Michael Ruf will now strengthen this body even further.

Frank Stieler will continue to lead the KraussMaffei Group as CEO, particularly with a view to further developing KraussMaffei as the core of the listed company „Qingdao Tianhua Institute of Chemistry Engineering“ (THY). He will also take over the management of THY as CEO and will merge the activities in China under the umbrella of this company. THY will operate as a KraussMaffei company in China. KraussMaffei China, Corporate Communications and Corporate Strategy will continue to report directly to Frank Stieler.

The overall management of the segments is the task of Michael Ruf. The focus is on the joint implementation of Compass, KraussMaffei's strategy, and the joint development of the operative business. The Segment Presidents report to Michael Ruf. He will also take over the management of the regional company in the USA. Global Procurement and Facility Management will also report to him in future. At the same time, he is in charge of location and site development projects in Germany.

In addition to his responsibilities as CFO of KraussMaffei, Harald Nippel will also take on the role of CFO at THY, where he will be responsible for consolidating KraussMaffei and THY as well as setting up comprehensive and uniform reporting systems. Together with Frank Stieler, he will be responsible for financial and capital market communications.

The segment presidents will continue to manage their respective businesses responsibly, strategically align them within Compass and further develop them in order to consistently expand growth and profitability.

Michael Ruf has more than 20 years of management experience in leading positions and brings a deep understanding of the market from the automotive supplier industry. He joins KraussMaffei after 13 years at Continental AG. His last position at Continental was Executive Vice President of the Commercial Vehicles & Aftermarket business unit. Before joining Continental AG, he worked for Robert Bosch GmbH and Harman/Becker Automotive, among others. He received his doctorate in electrical engineering from the Technical University of Munich.

"With the function of a COO, we are once again strengthening KraussMaffei worldwide. In his role, Michael Ruf will work on implementing the 'Compass' corporate strategy and jointly developing KraussMaffei's operative business. On behalf of KraussMaffei's Executive Committee, I would like to welcome Michael Ruf and look forward to working with him," says Frank Stieler, CEO of KraussMaffei.

Michael Ruf: "I am delighted to be part of shaping the future of such a world-famous traditional company. I look forward to working successfully with all KraussMaffei employees and my new colleagues on the
Executive Committee".

Dr. Frank Stieler 
CEO KraussMaffei Group          
Dr. Harald Nippel
CFO KraussMaffei Group