MUNICH—KraussMaffei Group GmbH has appointed Frank Stieler as CEO starting July 27, the Munich-based maker of plastics and rubber processing machinery and systems said in a June 15 news release.
He will succeed Jan Siebert, who has led the group since January 2012 and is leaving at his own request, the firm said in the release.
Stieler has more than 20 years of international experience at major German industrial companies, especially in machinery and systems engineering. His career includes senior management roles at Lurgi (now Air Liquide Group), Siemens and Hochtief A.G.
At Siemens, Stieler helped transform the Oil and Gas business unit from a loss-maker into a fast-growing and highly profitable division, KraussMaffei said. Before that, as CEO of Hochtief, he consolidated various business units and aligned them to growth markets.
“Leveraging his expertise and track record, Stieler will advance the KraussMaffei Group, recognise and accelerate the company's growth potential and further strengthen its position in international markets,” Kurt Kinzius, chairman of KraussMaffei Group, said in the release.