November 26, 2018 – Till Reuter, the chief executive officer of German-owned global robotics company KUKA, has announced he is stepping down from his role.
The Financial Times first reported the story, indicating that the decision was made Saturday.
KUKA was acquired in 2017 by Midea, a Chinese electrical appliance manufacturer. The Financial Times says that according to a source, Reuter did not share the same vision as Midea’s vice-president Andy Gu.
Reuter, who took control of the company in 2009 after joining a year earlier, had a contract that had recently been extended to 2022.
In a statement, Reuter says, “I am proud to have been part of KUKA for the last ten years and pushed robotics forward together with the team. Robotics and automation are the key topics of the future. I wish you all the best for the future. You always have my support.”
Peter Mohnen, the company’s finance chief, will act as CEO in the interim.