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New CEO at KraussMaffei

Li Yong will become the new CEO of KraussMaffei on 1 January 2023. He takes over the position from Dr Michael Ruf, who is leaving the company.

KraussMaffei will have a new CEO as of 1 January 2023. Li Yong will take over the position from Dr Michael Ruf, who is leaving the company at his own request. He will work on a smooth handover until his contract ends in March 2023. 

The Supervisory Board of KraussMaffei Group (KMG) approved the new management report at its meeting on 29 November. The Supervisory Board noted with approval the personal request of the current CEO Dr Michael Ruf not to extend his contract, which expires at the end of March 2023, and appointed Mr Li Yong as Dr Ruf's successor. Since 2018, KraussMaffei Group GmbH has been part of KraussMaffei Company Limited, a public limited company listed on the Shanghai Stock Exchange. The majority shareholder is the Chinese chemical group Sinochem.

Dr Ruf will remain Chairman of the Executive Board and CEO of KMG until 31 December 2022. His responsibilities will be transferred to Li on 1 January. Until his contract expires on 31 March 2023, Ruf will hold a Ensure a comprehensive handover and a smooth transition. He will continue to be involved in a number of ongoing projects.

„After four eventful years at KraussMaffei, now is the right time to pass on the baton to my successor. I am very proud that, together with the shareholders, we have succeeded in positioning KraussMaffei for a better future. I would like to thank the employees for their contribution and the representatives of the Works Council for their trust during the reorganisation. And I would like to thank my colleagues for the time we spent together and the Supervisory Board and shareholders for their support.“

Dr Michael Ruf

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Dr Ruf has been a member of the KMG Management Board since April 2019, initially as Chief Operating Officer and since April 2020 as CEO for KMG and for KraussMaffei Company Limited.

„Dr Ruf has successfully guided KraussMaffei through unprecedented challenges in recent years. In addition, he has significantly developed the company and comprehensively modernised its processes, technology, strategy and site development. His commitment to the future of KraussMaffei is greatly appreciated. The shareholders and the Supervisory Board would like to thank Dr Ruf for his commitment and wish him all the best for the future.“

Bai Xinping,Chairwoman of the Supervisory Board

The new CEO Li Yong has been with Sinochem for almost two decades in various managerial, operational and project management positions. Having spent a third of his career abroad, he has a wealth of Intensive experience in intercultural cooperation. He has been involved in KraussMaffei's business since June 2022.

„I have great confidence in the future and in KraussMaffei's competitiveness. With his international experience and his profound knowledge of the Asian growth markets in particular, Li Yong is exactly the right person to continue the company's transformation and return KraussMaffei to its former strength.“

Bai Xinping

„I am very much looking forward to my new role at KraussMaffei and to working with my new colleagues. Dr Ruf has decisively driven forward the transformation of KraussMaffei and set the course for the future. I am very grateful to him for this. Together with our main shareholder Sinochem, KraussMaffei is now ready for the next step. We will extend KraussMaffei's technological leadership and continue to drive forward the company's internationalisation. I am convinced that with the commitment of our teams, together we will write the next chapter in the company's important history.“

Li Yong 

Source: KraussMaffei

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