Plastics machinery manufacturer KraussMaffei (Munich / Germany; www.kraussmaffei.com) will be seeing a change of management next month. Frank Stieler will resign as CEO on 31 March 2020, with Michael Ruf succeeding him on 1 April 2020. Ruf is the compan’s current COO, and this position will not be filled.

Stieler has been CEO of the Germany-based group since July 2015 and of KraussMaffei Company Limited in China since May 2019. With Ruf as CEO, the company will streamline its organisation and deal with the challenges from the volatile economic situation due to the coronavirus outbreak. In February 2020, KraussMaffei announced job cuts affecting nearly 10% of its workforce worldwide – see Plasteurope.com of 13.02.2020.