Appointment of new chief financial officer Axel Kaufmann will allow KBA president and chief executive Helge Hansen to focus more intensely on the group’s strategic realignment, the company says. A preliminary announcement was made in mid-July, and KBA now says Kaufman (40) will take up the role from October 1. The creation of the new post by the supervisory board was prompted by the growing complexity of financial processes and regulations. Kaufmann was formerly head of business insight and planning at Nokia Siemens Networks 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. KBA says in both functions he played an instrumental role in activities that have recently occupied many companies in consolidating sectors – restructuring operations, implementing corporate alliances, mergers, acquisitions and divestments, and streamlining business infrastructures. He has extensive experience in international industry and finance, holding various executive positions at Siemens operations in Germany and abroad for more than ten years prior to the group’s merger with Nokia. He originally joined Siemens as assistant to the head of corporate purchasing at group headquarters. Kaufmann started his career as a trainee at Deutsche Bank, with secondments to New York and Toronto. He also studied in Paris as part of an exchange programme. This was followed by a BA in business administration at Würzburg University and a masters degree in international business at Paderborn University, where he also gained a PhD in banking and finance. Axel Kaufmann is married and has two children.