Opening strategy statements at Koenig & Bauer’s 100^th annual meeting and a handover to his successor came not from chief executive Andreas Pleßke, but from an AI-generated avatar, recorded on video.

The innovation focussed on the press maker’s development of artificial intelligence, with which it optimises internal processes and “actively shapes the future of printing and packaging”.

Attending shareholders could also find out about the product portfolio in a ‘showroom’ showcasing connected packaging applications from its Kyana subsidiary. An example was that customers could commission packaging and reorder consumables just by pointing their smartphone at the packaging, thanks to partnerships with Google, Siemens and others.

The meeting saw Stephen Kimmich take over as executive board chairman, and as chief executive from Andreas Pleßke, and Karoline Kalb succeed Gisela Lanza on the supervisory board. ‘ChanGe and ChanCe’ were the strategic guiding principle for transformation and focus on profitability, with shareholders strategies for increased profitability.

Supervisory board chairman Raimund Klinkner explained the company's strategic and organisational realignment and congratulated Kimmich: “Today's handover marks the beginning of a new era for Koenig & Bauer – a special moment for our company,” he said.

He also thanked Michael Ulverich, Christoph Müller and Ralf Sammeck for their dedication and contributions, and welcomed Alexander Blum as the new chief financial officer, “a distinguished leader for the next stage of our transformation”.

Pleßke, looked back on a challenging financial year in 2024, and commented that the world had become “more hostile to free trade and more unpredictable,” bringing new challenges to a company with an export ratio of around 87 per cent.

Beyond the strategic realignment, Koenig & Bauer was also “a European company in the world of high-tech printing presses and digital applications with start-up qualities”.

The target ratio of net working capital of a maximum of 25 per cent of annual revenue had been achieved for the first time, and outlined an upcoming “performance phase”, to be characterised by continuing volatility.

Kimmich closed by saying 100th annual meeting marked a milestone and a new chapter: “I am ready for it.”

Pictured: Handover of the executive board chairmanship from Andreas Pleßke (above left) to Stephen Kimmich ushers in a new era