CLEVELAND, Oct. 3, 2019 /PRNewswire/ -- The Boards of
Directors of Hyster-Yale Materials Handling, Inc. (NYSE: HY) and
Hyster-Yale Group, Inc. ("HYG"), the Company's wholly owned
operating subsidiary, announced today that Colin Wilson will retire as the operating
company's President and Chief Executive Officer, and as President
and Chief Executive Officer, HYG of Hyster-Yale Materials Handling
effective December 31, 2019. Mr.
Wilson joined HYG in 1988 and has served as HYG's President and
Chief Executive Officer since September 2014. During Mr.
Wilson's tenure as CEO, he has overseen a deepening of the
Company's product portfolio through the acquisitions of Nuvera Fuel
Cells, Inc. (fuel cell power options), Bolzoni S.p.A. (attachments)
and Speedshield Distribution (telematics), as well as a broadening
of the Company's geographic and lower cost product presence through
the acquisition of a controlling interest in Zhejiang Maximal
Forklift Co., Ltd.
Effective January 1, 2020,
Rajiv K. Prasad will become
President and Chief Executive Officer of HYG and President and
Chief Executive Officer, HYG of Hyster-Yale Materials Handling. Mr.
Prasad has over 12 years of experience with HYG, most recently as
Chief Product and Operations Officer where he oversees all product
development, supply chain, manufacturing strategy, digital
solutions and IT activities. Mr. Prasad also provides executive
leadership for the Nuvera business and, from July 1, 2019, all of the lift truck
operations.
About Hyster-Yale Materials Handling
Hyster-Yale Materials Handling, Inc., headquartered in Cleveland, Ohio, offers a broad array of
solutions to meet the specific materials handling needs of
customers' applications. The Company's wholly owned operating
subsidiary, Hyster-Yale Group, Inc., designs, engineers,
manufactures, sells and services a comprehensive line of lift
trucks and aftermarket parts marketed globally primarily under the
Hyster® and Yale®
brand names. Subsidiaries of Hyster-Yale Group include Nuvera
Fuel Cells, LLC, an alternative-power technology company focused on
fuel cell stacks and engines, and Bolzoni S.p.A., a leading
worldwide producer of attachments, forks and lift tables marketed
under the Bolzoni®, Auramo® and
Meyer® brand names. Hyster-Yale Group also has
significant joint ventures in Japan (Sumitomo NACCO) and in China (Hyster-Yale Maximal). For more
information about Hyster-Yale Materials Handling, Inc. and its
subsidiaries, visit the Company's website at
www.hyster-yale.com.
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SOURCE Hyster-Yale Materials Handling, Inc.