Robotics group Kuka said it is in talks to remove its chief executive less than two years after the German company was acquired by Chinese appliance group Midea for €4.5bn.
Till Reuter, CEO since 2009, had his contract extended last year until 2022. But Kuka said late on Saturday that supervisory board chairman Andy Gu, from Midea, had spoken with Mr Reuter about him departing early. The board has not discussed or decided upon any action.
A person familiar with the situation said problems arose between the two men regarding strategy for the Kuka and Midea joint-venture in China, the market with by far the greatest potential for robotics and industrial automation. Mr Reuter, this person said, is disappointed and would like to continue in his role, but he accepts that Midea can now call the shots — it owns nearly 95 per cent of shares — and he will help to find a solution.