The Fair Friend Group (FFG) said it has initiated a comprehensive strategic realignment to address the "current global challenges in the machine tool industry and to strengthen its competitive position.
As part of this transformation, FFG has appointed Dr. Sebastian Schöning as its new Chief Executive Officer (CEO). Dr. Schöning, a PhD in mechanical engineering, brings over 20 years of professional and management experience. Since 2021, he has served as the Group’s Chief Operating Officer and as CEO of MAG IAS GmbH. In his new role, Schöning will spearhead global strategy development and lead the group’s operations. He will be supported by Ms. Rong-Rong Liu, who has been appointed Chief Financial Officer (CFO) and will be responsible for overseeing the group’s financial management.
A key element of the realignment is the increased leveraging of synergies among Fair Friend Group’s globally operating companies. This enables FFG to provide customers with even more integrated and customized solutions. Additionally, FFG plans to expand its range of standard machines and develop new technologies in emerging industries such as humanoid robotics and energy. By deeply integrating artificial intelligence, smart manufacturing, energy efficiency, and decarbonization, FFG aims to ensure future-oriented and environmentally friendly production. Customers will benefit from a wide range of highly specialized machines and manufacturing systems, allowing manufacturing companies to respond flexibly to both regional and global market demands.
“Our clear vision, strong management team, and relentless drive to help our customers succeed are the keys to future growth,” said Schöning. “With the measures we are now implementing, we are ideally positioned to further expand FFG’s market presence in the global machine tool industry.” Founder and Chairman Jimmy Chu shares this optimism and adds: “I have complete confidence that under the leadership of Dr. Sebastian Schöning and Rong-Rong Liu, FFG will play a leading role in innovative technologies and achieve its goals.”
At the International Exhibition for Metalworking (AMB) 2024 in September, the group emphasized innovation, efficiency, and an enhanced global presence under the motto “Let’s Start the Journey.”
Related Glossary Terms
- metalworking
metalworking
Any manufacturing process in which metal is processed or machined such that the workpiece is given a new shape. Broadly defined, the term includes processes such as design and layout, heat-treating, material handling and inspection.
- robotics
robotics
Discipline involving self-actuating and self-operating devices. Robots frequently imitate human capabilities, including the ability to manipulate physical objects while evaluating and reacting appropriately to various stimuli. See industrial robot; robot.
