New CEO for KraussMaffei

KraussMaffei Group has appointed Li Yong as its new CEO, replacing Dr Michael Ruf.

Li Yong has held roles with Chinese chemicals giant Sinochem for nearly two decades in a variety of executive, operational and project management positions. He has already been involved in KraussMaffei's business since June 2022, the company said.

"Dr Ruf has successfully steered KraussMaffei with a sure hand through some unprecedented challenges in recent years,” said supervisory board chairman Bai Xinping. “He has also significantly developed the company and comprehensively modernized its processes, technology, strategy and site development.”

“Together with our main shareholder Sinochem, KraussMaffei is now ready for the next step,” said Yong. “We will expand KraussMaffei's technological lead and continue to drive forward the company's internationalization.”