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KBA hires new CFO

Aug 24, 2010 12:00 AM

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Following a preliminary announcement in mid-July, Koenig & Bauer AG’s supervisory board has appointed a new CFO, Axel Kaufmann, effective October 1, 2010. “While the creation of the new post was prompted by the growing complexity of financial processes and regulations,” KBA reports, “it will also allow president and CEO Helge Hansen to focus more intensely on the group’s strategic realignment.”

Kaufmann formerly served as head of business insight and planning for Helsinki- and Munich-based Nokia Siemens Networks (NSN) with a remit encompassing global market analyses and strategic coordination of the company’s planning process. Prior to that, he was head of finance and control for almost three years with responsibility over several global NSN business units. In both functions he played an instrumental role in activities that have recently occupied many companies in consolidating sectors, ie restructuring operations, implementing corporate alliances, mergers, acquisitions and divestments, and streamlining business infrastructures, qualities KBA cites as “valuable experience for his new position at KBA.”