Munich-based plastic & rubber machinery giant KraussMaffei has created a new chief operating officer (COO) role as part of its strategy to grow.
The company announced 11 Feb that Michael Ruf, 54, will join KraussMaffei from Continental AG to take up the position, effective 1 April.
As COO, he will also serve on KraussMaffei’s executive committee, which is currently made up of CEO Frank Stieler, CFO Harald Nippel and the heads of the four business segments Injection Molding Machinery (IMM), Extrusion Technology (EXT), Reaction Process Machinery (RPM) and Digital Service Solutions (DSS).
According to the machinery supplier, the creation of the new role is part of its growth strategy, “which in the coming years aims to see the company entering new market segments for new machine series.”
KraussMaffei’s strategy also envisages expanding market presence, particularly in China, as well as increasing its offer of digital products and services.
Ruf holds a PhD in electrical engineering from the Technical University of Munich. Most recently, he led the commercial vehicles & aftermarket business unit at Continental AG as executive vice president.
In his position as COO, Ruf will lead the four business segments IMM, EXT, RPM and DSS, as well as the global procurement, facility management and the business excellence department.
One of his key tasks will be to implement the company’s new "Compass" strategy, which specifically targets digitalisation within KraussMaffei.
He will also be responsible for the US subsidiary KraussMaffei Corp. and lead the “location development projects” in Germany.