A new CEO for the German manufacturer

On June 15 the supervisory board of KraussMaffei group appointed Frank Stieler as Chief Executive Officer (CEO).  Effective July 27, Stieler will succeed Jan Siebert, who has led the KraussMaffei Group since January 2012, and who is leaving at his own request.

“Stieler is a charismatic leader with 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”, said Kurt Kinzius, chairman of the supervisory board of KraussMaffei group. 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, Stieler shaped the oil and gas business unit, which under his leadership developed from a loss-making entity to a fast-growing and highly profitable division. Before Stieler was appointed chairman of the executive board of Hochtief, 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, Stieler will advance the KraussMaffei group, recognize and accelerate the company’s growth potential and further strengthen its position in international markets”, Kinzius stated.

Jan Olaf Siebert will be leaving KraussMaffei Group at his own request on July 26. “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. Under Jan Olaf Siebert’s management, the group has successfully expanded its global presence and strengthened its market position in both traditional and emerging markets. We respect his decision to pursue new opportunities. I am convinced that Jan Olaf Siebert will remain in favorable contact with KraussMaffei Group in the future and I wish him all the best for his future”, Kinzius concluded.