KION Group CFO Thomas Toepfer to join Covestro as of April 1, 2018
- Supervisory Board agrees to Dr. Toepfer’s request for early termination of his contract
- Dr. Feldmann, chairman of the Supervisory Board: “Dr. Toepfer will be leaving the finance function in excellent shape and has played a key role in ensuring the capital markets have confidence in the KION Group”
Frankfurt, November 27, 2017 – Dr. Thomas Toepfer, CFO of KION GROUP AG, will be leaving the company on March 31, 2018. He will be joining Covestro AG in Leverkusen, one of the world’s leading polymer material manufacturers, in the same role. On Monday, the Supervisory Board of KION GROUP AG agreed to Dr. Toepfer’s request to have his contract – which would have run until August 31, 2020 – terminated early. The Supervisory Board will decide on his successor very soon.
Dr. John Feldmann, chairman of the Supervisory Board, stated: “It is with regret that the Supervisory Board has accepted Thomas Toepfer’s resignation, but we respect his decision to pursue his next career step outside our Group. Thomas is a very experienced CFO and Labor Relations Director and we are sorry to be losing him. Under the leadership of Chief Executive Officer Gordon Riske, he has worked closely with his colleagues on the Executive Board and has played a crucial role in our success and in shaping the positive development of our Group over more than five years. He has placed the financial structure of the Group on a sound long-term footing, and will be handing over the finance function in very good shape. Dr. Toepfer has played a crucial role in ensuring that the KION Group has enjoyed the confidence of the capital markets and of its shareholders in recent years.”
Gordon Riske, Chief Executive Officer of the KION Group, said: “I would like to thank Dr. Toepfer for the successful and collaborative working relationship and for the substantial contribution he has made to the trajectory of profitable growth and our transformation into an integrated supply chain solutions provider. We wish him the best of luck and every success in his new role.”
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 warehouse automation.
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, while OM STILL is a market leader in Italy, and OM Voltas is a leading provider of industrial trucks in India.
With an installed base of more than 1.2 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 30,000 employees and is expecting to generate revenue of between EUR7.4 billion and EUR7.7 billion in the 2017 financial year.
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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