Supervisory Board extends term of office of CEO Peter Mohnen ahead of schedule
The Supervisory Board of the KUKA Group has decided to prematurely appoint CEO Peter Mohnen as Chief Executive Officer until 2024. CFO Andreas Pabst will move to the Midea Robotics and Automation division as CFO in July 2021.
The term of office of the CEO will thus be extended by a further three years until summer 2024, effective July 1, 2021. "I would like to thank the Supervisory Board and the employees for their confidence in my work,” said Peter Mohnen.
"I have been part of this company for almost ten years and really appreciate the unique KUKA spirit. Together we have stabilized KUKA and brought it through the COVID-19 crisis. Now we are continuing to focus on our vision for the coming years. Automation and digitalization are becoming more important than ever. Here, we will strengthen KUKA as a global player, with new areas and new markets." Mohnen is also aiming for significantly stronger growth in the Chinese market.
"We need to make access to automation easier and more intuitive and offer our customers new solutions for a sustainable and efficient production. To this end, we have launched comprehensive future projects from our Augsburg headquarters, which we are rolling out worldwide. The heart of KUKA's developments and innovations continues to beat in Augsburg."
Supervisory Board Chairman Dr. Andy Gu said: "Peter Mohnen is leading KUKA through the economic crisis in a confident and stable manner. With him, we have the right person at the helm to continue to put KUKA on a growth course. He has known the company for many years and enjoys the trust of the workforce and the Supervisory Board. We look forward to a trusting and successful collaboration in the coming years."
Andreas Pabst, Chief Financial Officer, will change from KUKA to Midea Robotics and Automation, one of Midea's five divisions, as Chief Financial Officer in July 2021. The Midea Group has been a major owner of KUKA AG since 2017.
The Supervisory Board and KUKA CEO Mohnen thanked Andreas Pabst for his many years of outstanding collaboration. "As Chief Financial Officer, Andreas Pabst has steered KUKA through challenging times with his high level of expertise. We have enjoyed many years of trusting cooperation. I regret his decision and personally wish him every success in his new role" said Peter Mohnen. The search for a successor for the position of Chief Financial Officer is ongoing.
Andreas Pabst had joined the KUKA Group in 2008 as Head of Corporate Accounts, and in 2018 the Augsburg native became CFO; his predecessor was current CEO Peter Mohnen. Mohnen had joined KUKA in 2012 as the Executive Board member responsible for Controlling and Finance; at the end of 2018, the Rhineland-Palatinate native took over as CEO.