DGAP-News: KION GROUP AG: John Feldmann to step down as chairman of the Supervisory Board of KION GROUP AG on May 9, 2019
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DGAP-News: KION GROUP AG / Key word(s): Personnel
KION GROUP AG: John Feldmann to step down as chairman of the Supervisory Board of KION GROUP AG on May 9, 2019 (news with additional features)
08.02.2019 / 13:58
The issuer is solely responsible for the content of this announcement.
John Feldmann to step down as chairman of the Supervisory Board of KION GROUP AG on May 9, 2019
- Michael Macht to be the new Supervisory Board chairman
- Tan Xuguang set to become a shareholder representative on the Supervisory Board
Frankfurt/Main, February 8, 2019 - John Feldmann (69) has informed KION GROUP AG that he is resigning as chairman of the Company's Supervisory Board at the conclusion of the 2019 Annual General Meeting. The Supervisory Board's Nomination Committee proposes that Michael Macht (58) and Tan Xuguang (55), Chairman of Weichai Power, to rejoin the Supervisory Board as shareholder representatives. Michael Macht is to be nominated for election as chairman of the Supervisory Board.
The relevant Supervisory Board motions for the Annual General Meeting (AGM) will be drawn up at the end of February and will be published with the notice convening the Company's AGM, which takes place May 9. The Supervisory Board is scheduled to elect its new chairman immediately following the AGM.
Michael Macht, a mechanical engineer, was a Member of the Board of Management of Volkswagen AG with responsibility for Group Production from 2010 to 2014. From 1998 to 2010, he served on the Executive Board at Porsche AG, and most recently as the company's Chief Executive Officer. In June 2018, Michael Macht became a non-executive member of Weichai Power's Board of Directors. He joined the Supervisory Board of KION GROUP AG in October 2018.
John Feldmann has been chairman of the Supervisory Board of KION GROUP AG since 2011. During his tenure, he has played a key role in the KION Group's transformation from a European industrial truck manufacturer into one of the world's leading providers of intralogistics and automation solutions. The company has been listed on the MDAX since 2013. During John Feldmann's time as Supervisory Board chairman, the company has put in place an Executive Board that is diverse, international and equipped with the necessary expertise for the future. In addition, the composition of the Supervisory Board has evolved to ensure that it can tackle the strategic challenges of digitalization.
"We owe a huge debt of gratitude to John Feldmann for the enormous commitment that he has shown in supporting the KION Group as chairman of the Supervisory Board over the past eight years," said Gordon Riske, Chief Executive Officer of KION GROUP AG. "He has demonstrated a sense of obligation toward all of the company's stakeholders and played a significant role in implementing the German Corporate Governance Code in the Group. With his vast international experience and strategic foresight, he has been a highly appreciated advisor to me and the entire Executive Board. On behalf of the Executive Board and the entire workforce, I would like to express our sincere thanks for the close and collaborative working relationship during his time as chairman of the Supervisory Board. We are pleased that Michael Macht has agreed to be nominated for election as chairman of the Supervisory Board. In his new role, he will build on the long-term continuity at the helm of the Supervisory Board. We look forward to continuing to work with him."
The KION Group is a global leader in industrial trucks, related services and supply chain solutions. Across more than 100 countries worldwide, the KION Group designs, builds and supports logistics solutions that optimize material and information flow within factories, warehouses and distribution centers. The Group is the largest manufacturer of industrial trucks in Europe, the second-largest producer of forklifts globally and a leading provider of automation technology.
The KION Group's world-renowned brands are clear industry leaders. Dematic, the newest addition to the KION Group, is a global leader in automated material handling, providing a comprehensive range of intelligent supply chain and automation solutions. The Linde and STILL brands serve the premium industrial truck segment. Baoli focuses on industrial trucks in the economy segment. Among KION's regional industrial truck brand companies, Fenwick is the largest supplier of material handling products in France and OM Voltas is a leading provider of industrial trucks in India.
With an installed base of more than 1.3 million industrial trucks and over 6,000 installed systems, the KION Group's customer base includes companies in all industries and of all sizes on six continents. The Group has more than 32,000 employees and generated revenue of EUR7.6 billion in 2017.
This document and the information contained herein are for information purposes only and do not constitute a prospectus or an offer to sell or a solicitation of an offer to buy any securities in the United States or in any other jurisdiction.
This release contains forward-looking statements that are subject to various risks and uncertainties. Future results could differ materially from those described in these forward-looking statements due to certain factors, e.g. changes in business, economic and competitive conditions, regulatory reforms, results of technical studies, foreign exchange rate fluctuations, uncertainties in litigation or investigative proceedings, and the availability of financing. We do not undertake any responsibility to update the forward-looking statements in this release.
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Additional features:Document: http://n.eqs.com/c/fncls.ssp?u=WVKUSIBYKVDocument title: Press Release_KION_Feldmann_EN_pdf
08.02.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
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