Restructuring Expert Joins KBA Board

PrintAction Staff
April 22, 2014
By PrintAction Staff

Dr. Andreas Plesske on May 1 is to become a member of Koenig & Bauer’s (KBA) management board to oversee the German press maker’s restructuring efforts.

Plesske will lead what KBA refers to as its Fit@All program, which was approved in December 2013 to realign one of the world’s largest press manufacturers. This effort involves a series of measures, including the elimination of anywhere from 1,100 to 1,500 jobs, aimed at strengthening the profitability and competitiveness of the company.

At the time of its December 2013 restructuring announcement, KBA stated the world market for sheetfed presses has been halved over the recent years, and the market for web presses has contracted by around 70 percent.

Noted as both a lawyer and economist, Plesske has extensive experience in management and restructuring as CEO and CRO at German and international companies of varying sizes and from different industries. This includes companies similar to KBA active in machinery and plant engineering. Plesske’s initial term of office is set to expire on October 31, 2015, with an option to extend this by a further six months.

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