Change at the top of Kuka
Till Reuter leaves
Till Reuter to step down as CEO in December in agreement with the Supervisory Board. The Kuka Supervisory Board and Dr. Till Reuter, CEO of Kuka AG, today agreed to terminate Dr. Till Reuter's Executive Board mandate as CEO prematurely in December. Peter Mohnen will take over as interim CEO and Andreas Pabst as interim CFO.
Dr. Till Reuter has been Kuka's CEO for almost ten years. He joined the company in 2009 and led Kuka out of the economic crisis. Under his leadership, the company was able to maintain its leading position in the automotive sector and further position itself in new markets. Together with the Kuka team, Reuter shaped the strategy for Industry 4.0, collaborative robots and growth in China.
Dr. Till Reuter: "I am proud to have been part of Kuka for the last ten years and to have developed robotics together with the team. Robotics and automation are the key topics of the future. Good luck to the whole team. You always have my support."
"We want to continue to be a reliable partner for our customers, based on the expertise of our employees," said Peter Mohnen. Dr. Andy Gu, Chairman of the Supervisory Board: "On behalf of the Supervisory Board and the entire company, I would like to thank Dr. Reuter for his great efforts in successfully managing Kuka's turnaround since his takeover in 2009. Kuka is well positioned to get back on the path of sustainable growth by capitalizing on the increasing demand for intelligent robotics and strengthening its position in the Chinese market."
All existing investor agreements that Kuka has signed with Midea as majority shareholder, including the shielding agreement to protect Kuka's intellectual property, remain unchanged. Midea expressed its support for Kuka's growth strategy, including the development of the Chinese market, the focus on research and development, investments in digitalization and Industry 4.0 as well as a strong commitment to Kuka's presence in Germany. pb
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