Würzburg, Germany based Koenig & Bauer announced that Stephen Kimmich has been appointed as the next CEO starting in June. Kimmich, CFO and Deputy CEO, will succeed the previous CEO, Andreas Pleßke, who is scheduled to retire as planned on December 31, and will assume special responsibilities within the group as a member of the Executive Board.
“I am very pleased that Stephen Kimmich is succeeding me as CEO,” Pleßke said. “He has proven in recent years as CFO and Deputy CEO that he can lead Koenig & Bauer successfully. With his extensive wealth of knowledge–both in our markets and technologies, in mechanical engineering and in finance–he is the ideal person for this position. In addition, every generational change always brings new impulses for a company.”
Kimmich has been with Koenig & Bauer since 2020 and has taken on increasing responsibility for the company during this time. He studied mechanical engineering and business administration in the US, UK and Germany. His 25 years of global industrial experience in mechanical engineering and the automotive industry have given him not only a deep understanding of international business processes, but also the ability to lead and transform companies in a dynamic environment.
At Koenig & Bauer, he initially served as CFO, responsible for finance, capital market communications, IT, and strategic M&A. In December 2023, he was appointed Deputy CEO and, in April 2024, additionally assumed responsibility for the business segment Special as a member of the Executive Board. He will succeed Pleßke as Chairman of the Executive Board at the annual general meeting in June 2025. The term is for five years.
Chairman of the Supervisory Board, Raimund Klinkner, said: “With Stephen Kimmich, we have the ideal candidate to take on the role of CEO in the generational transition. In addition to his international experience and his profile as an engineer and financial expert, he has built up a profound knowledge of our business processes, products, markets, and customers over the past five years at Koenig & Bauer.”
“Koenig & Bauer looks back on a success story spanning over 200 years,” Kimmich said. “Over the last five years, I have cultivated a deep passion for this excellent company and our industry.
“I look forward to leading Koenig & Bauer into the future together with the new management team and our dedicated employees, and most of all to being successful together with our customers and partners.”
The Supervisory Board of Koenig & Bauer AG has appointed Alexander Blum as the new Chief Financial Officer (CFO) for a three-year term, effective July 1.
Blum has extensive and long-standing experience in finance. He studied business administration and earned his doctorate before beginning his career in industry.
Over the past 20 years, he has served as CFO in various companies in the IT sector, logistics, and mechanical engineering, among others. He brings experience from a broad range of family businesses, private equity-led companies, and publicly-traded companies.
Dagmar Rehm, Deputy Chairwoman of the Supervisory Board, added: “With Alexander Blum, we have gained an excellent candidate who brings extensive international experience in the financial and capital markets sector and will help shape the future as CFO of Koenig & Bauer.”
Blum will begin his work at Koenig & Bauer on May 1 to help ensure a smooth transition of the future CEO and CFO roles. The group’s restructuring is being rapidly advanced. It envisages a reduction from three to two business segments and a reduction of the Executive Board from five to two members.
Koenig & Bauer has also appointed two new members to the Group Management team. Christian Steinmaßl is responsible for various areas in the newly created Special & New Technologies segment, and Markus Weiß leads the Paper & Packaging Sheetfed Systems segment
https://boardconvertingnews.com/koenig-bauer-announces-new-ceo-cfo-executive-board-changes/
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