The Supervisory Board of the KraussMaffei Group (KMG) has reorganized the management of the Group. The previous Chairman of the Supervisory Board, Chi Zhang, has been appointed as the new Chief Executive Officer (CEO) with effect from January 10, 2024. The previous CEO, Yong Li, will take on the newly created position of Chief Administrative Officer. His responsibilities will include Corporate HR, IT and Audit. Shihao Yang from the top management of KraussMaffei's main shareholder Sinochem will head the Supervisory Board. The change will be accompanied by a significant strengthening of the KraussMaffei Group's Management Board, which will be increased to three members. Jörg Bremer remains a member of the Management Board as Chief Financial Officer.
The new CEO Chi Zhang has been with Sinochem for more than two decades in a variety of executive, operational and project-related management positions. Since the end of 2022, he has been the Chairman of China National Chemical Equipment Company (CNCE), a Sinochem Holdings company and owner of the KraussMaffei Group.
Chi Zhang said of his new position as CEO: "I am very much looking forward to this new role. With our new, further strengthened management team, the support of our main shareholder Sinochem and the many committed and highly competent colleagues in Germany and around the world, we have the best prerequisites to put KraussMaffei back on the road to success."
