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Posted 18 February, 2021

HYSTER-YALE MATERIALS HANDLING, INC. appointed new CEO

CEO Change detected for ticker NYSE:HY in a 8-K filed on 18 February, 2021.


  On February 17, 2021, the Board of Directors of Hyster-Yale Materials Handling, Inc. (the "Company") appointed Rajiv Prasad, President and Chief Executive Officer of the Company's wholly owned operating subsidiary, Hyster-Yale Group, Inc.  

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Overview of HYSTER-YALE MATERIALS HANDLING, INC.
Industrial Goods • Mobile Machinery
Hyster-Yale, Inc. engages in the manufacture of lift trucks. It operates through the following segments: Americas, Europe, Middle East and Africa (EMEA), and Japan and Asia Pasific (JAPIC), Bolzoni, and Nuvera. The Americas include the United States, Canada, Mexico, Brazil, Latin America, and the corporate headquarters. The JAPIC segment involves the operations in the Asia and Pacific regions, China, and the equity earnings. The Bolzoni segment focuses on the distribution and production of attachments, forks, and lift tables marketed under the Bolzoni, Auramo, and Meyer brand names. The Nuvera segment consists of design, manufacture, and sale of hydrogen fuel cell stacks and engines. The company was founded in 1999 and is headquartered in Cleveland, OH.
Market Cap
$794M
View Company Details
HYSTER-YALE MATERIALS HANDLING, INC. by TradingView
Relevant filing section
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain

Officers; Compensatory Arrangements of Certain Officers.


On February 17, 2021, the Board of Directors of Hyster-Yale Materials Handling, Inc. (the "Company") appointed Rajiv Prasad, President and Chief Executive Officer of the Company's wholly owned operating subsidiary, Hyster-Yale Group, Inc. ("HYG"), as President of the Company effective immediately. He will hold this new position along with his current position at HYG. The Board of Directors indicated that this new title better reflects Mr. Prasad's broad role which includes oversight responsibilities for all of the Company's subsidiaries, including its forklift truck business, HYG, the Company's attachment business, Bolzoni, S.p.A., and the Company's fuel cell business, Nuvera Fuel Cells, LLC.


Mr. Prasad, age 57, became President and Chief Executive Officer of HYG in 2020; Vice President, Global Product Development of NMHG (now known as HYG) in 2007 to 2012; Vice President, Global Product Development and Manufacturing of NMHG from 2012 to 2014; Senior Vice President, Global Product Development, Manufacturing and Supply Chain Strategy of NMHG from 2014 to 2018; and Chief Product and Operations Officer of HYG from 2018 to 2019.


Alfred M. Rankin, Jr. will remain Chairman and Chief Executive Officer of the Company.