German manufacturer Koenig & Bauer has announced the continuation of its managerial reorganization. As of the Annual General Meeting on June 4, 2025, Stephen Kimmich, currently CFO and Deputy Managing Director, will succeed Andreas Pleßke as Chairman of the Management Board. He will hold this position for a five-year term. Andreas Pleßke will remain a member of the Board with specific responsibilities until his departure at the end of the year.
Koenig & Bauer headed by a technical and financial expert
Joining Koenig & Bauer in 2020, Stephen Kimmich has successively headed Finance, IT, Financial Communications and Strategic M&A. Since December 2023, he has also been Deputy Managing Director, and took charge of the Special segment in April 2024. A mechanical engineer with a degree in economics, he has 25 years' experience in industry, particularly in engineering and the automotive sector.
The Chairman of the Supervisory Board, Raimund Klinkner, welcomed this development: "In Stephen Kimmich, we have the ideal candidate to accompany this generational transition. He has acquired in-depth knowledge of our markets, products and customers ."
Andreas Pleßke, who is due to retire at the end of the year, has himself been preparing his succession in consultation with the Supervisory Board.
Alexander Blum appointed CFO
Alexander Blum will replace Stephen Kimmich as CFO of Koenig & Bauer. He will take up his post on July 1, 2025, following a transition period starting on May 1.
He holds a degree in business management and a doctorate in economics. He has held CFO positions in a number of industrial and technology companies over the past 20 years, in family-owned, listed and privately-owned environments.
Gradual reduction of the Management Board
These appointments are part of the strategic refocusing announced in November 2024. The automaker plans to reduce its management board to two members by January 1, 2026, around the functions of CEO and CFO.
The abolition of the COO post from December 2024, the planned departure of Christoph Müller in March 2025 and the retirement of Ralf Sammeck in June will enable us to achieve this configuration.
At the same time, operational management has been strengthened with the appointment of Christian Steinmaßl for the Special & New Technologies segment and Markus Weiß for the Paper & Packaging Sheetfed Systems segment.
Klinkner declared: "In just one year, we have implemented a complete restructuring of the organization. It is on this basis that the new management team will be able to take the Group forward in a demanding industrial environment."
