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06-16-2015

KraussMaffei Group Appoints New CEO

Dr. Frank Stieler (figure: KraussMaffei)

Dr. Frank Stieler (figure: KraussMaffei)

Yesterday, the Supervisory Board of KraussMaffei Group GmbH, a leading global manufacturer of plastic and rubber machinery and systems, appointed Dr. Frank Stieler as Chief Executive Officer (CEO). Effective July 27, 2015, Dr. Stieler will succeed Jan Olaf Siebert, who has led the KraussMaffei Group since January 2012, and who is leaving at his own request.

Dr. Stieler has an outstanding track record of more than twenty years of international experience in renowned German industrial companies with a global presence, especially in machinery and systems engineering. This is demonstrated by his long standing experience in top management positions, including at Lurgi (now known as Air Liquide Group), Siemens and Hochtief. At Siemens, Dr. Stieler shaped the Oil & Gas business unit, which under his leadership developed from a loss-making entity to a fast-growing and highly profitable division. Before Dr. Stieler was appointed Chairman of the Executive Board (CEO) of Hochtief AG, he consolidated various business units as a member of the company's board of directors and aligned them to growth markets.

"Leveraging his expertise and track record, Dr. Stieler will advance the KraussMaffei Group, recognize and accelerate the company's growth potential and further strengthen its position in international markets", Dr. Kurt Kinzius, Chairman of the Supervisory Board of KraussMaffei Group GmbH, stated.

Jan Olaf Siebert will be leaving KraussMaffei Group GmbH at his own request on July 26, 2015. "The Supervisory Board thanks Jan Olaf Siebert for the good and successful collaboration over the past three years as well as for his strong personal commitment during the successful strategic reorientation of KraussMaffei Group", said Dr. Kinzius.

Company profile

KraussMaffei Technologies GmbH

Krauss-Maffei-Str. 2
DE 80997 München
Tel.: 089 8899-0
Fax: 089 8899-2206

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