Meister has been credited with working his life to make the work of people working in professional kitchens easier.
Dr Peter Stadelmann, Rational chief executive officer said: “The well-being of the 'entrepreneurs in the company', as he viewed his employees, was very important to Mr Meister. This makes us all the more sad about our great loss, and we are committed to continuing his lifetime's work in his spirit."
Meister founded Rational in 1973 and three years later in 1976, along with his small kitchen team, added steam to the hot, dry air in the oven, with it giving birth to the combo-steamer.
The invention is widely recognised as having ‘revolutionised’ the large and commercial kitchens of the world.
In 1998 he became chairman of the supervisory board and in 2000 floated Rational AG on the stock market.
During his time in charge, Rational grew from 18 to 1,500 employees worldwide, with around half of the employees working at the Landsberg headquarters.
The company distributes its combi steamer in more than 100 countries and in its most recent figures from 2015, had a revenue of over £560 million.
Walter Kurtz, supervisory board member and shareholder, will act as the first deputy chairman and assume temporary chairmanship of the supervisory board.