FLORENCE, Ky.—Paul Caprio, president of Krauss-Maffei Corp. for the past 10 years, is leaving the Florence company.
After 25 years of service, Caprio "has decided to leave the company to pursue other endeavors, effective June 7," Krauss-Maffei said in a June 5 news release.
Krauss-Maffei Corp. is the U.S. subsidiary of machinery manufacturer KraussMaffei Group GmbH, based in Munich.
Caprio said the decision was mutual.
"I'm leaving on very good terms," he said. "There's nothing but good memories from both sides."
Caprio said he will be in the office in Florence on his last day to have pizza with his coworkers.
"It was a great run. A great company. I enjoyed the last 25 years and I wish them all the best," he said. "I'll definitely miss all the colleagues in the Germany and the U.S. that I worked with. Really good people."
Caprio, 57, said he has no immediate plans, but said he probably will remain in the plastics industry.
"I'm sure, but I don't know what I'm going to do yet," he said, adding: "My roots are in plastics now."
Caprio started with KM in 1994 and held several executive positions covering injection molding machinery. He was promoted in 2001 from sales and marketing manager to executive vice president. The company promoted him to president of the U.S. subsidiary in 2009, giving Caprio full responsibility for the company's three technologies of injection molding, extrusion and polyurethane processing machines.
For now, Caprio is taking a break from the machinery world. His wife, Teresa, an accountant, has left her job as well.
"I'm going to take the balance of the year off and play a lot of tennis and golf and travel with my wife, he said.
Michael Ruf will serve as Krauss-Maffei Corp.'s interim president, in addition to his role as chief operating officer of KraussMaffei Group, until a new top executive is appointed for the Florence operation.
Chris Chapman, chief financial officer at Krauss-Maffei Corp., will support day-to-day operations, reporting directly to Ruf.
Sven Schewe, director of sales for the Americas region for KraussMaffei Group, will lead sales of injection molding machine sales for the KraussMaffei and Netstal brands, as well as automation, until a new segment manager is found.
Other top executives will remain in the same positions, and continue to lead their business segments at Krauss-Maffei Corp.: Matt Sieverding, president of extrusion technology, and Josef Art, head of reaction process technology. Art also continues to serve as interim general manager.