The top two German executives of injection press maker Demag Plastics Group are leaving. DPG said Helmar Franz, its executive managing director, and Gerhard Becker, chief financial officer, ``will leave the company by mutual agreement at the end of April.''
DPG has not named a successor for Franz, who is based at DPG's plant in Schwaig, Germany. He could not be reached for comment.
The new CFO will be Uwe Rohfleisch, who currently heads corporate controlling at parent company Mannesmann Plastics Machinery GmbH in Munich.
The March 17 announcement comes amid reports that Mannesmann Plastics Machinery is for sale. MPM and its owner, New York buyout firm Kohlberg Kravis Roberts & Co., have declined to comment.
DPG has joint headquarters, in Schwaig and Strongsville, Ohio. Franz had split the executive managing director's title - the top post - with Bill Carteaux, who was based at the Strongsville plant.
But Carteaux's position was vacated recently when he became the new president of the Society of the Plastics Industry Inc. in Washington.
Franz is well-known in German machinery circles. He is the chairman of VDMA, the German Plastics and Rubber Machinery Association. He joined Demag in 1990 and headed its Moscow office until 1995, when the company put him in charge of its small-tonnage injection press plant in Wiehe, Germany. In 1999, Demag promoted Franz to executive managing director.
Franz will continue to work with DPG as an adviser, the company said.
DPG said Brian Bishop ``maintains his responsibility for all North American activities.'' Bishop was hired in 2003 as vice president of sales for North America. He could not be reached for comment.
A year ago, Konrad Duschl, the head of global manufacturing, left the company.
DPG said its management board now has two members. The new CFO, Rohfleisch, will join Herbert HÃ¶gemann, chief operating officer for production and procurement.