KION Group to pursue Strategy 2020 with streamlined management structure

2015-01-14 / 19:20:26

  • KION Group CEO Gordon Riske is to take over the additional role as CEO of the brand companies Linde MH and STILL
  • Bert-Jan Knoef and Theodor Maurer are, at their own request, leaving the Executive Board of KION GROUP AG and the management boards of STILL and Linde MH respectively
  • Shortening decision-making processes - making greater use of synergies - accelerating growth
  • Record results expected for 2014

Wiesbaden, 14 January 2015 - The KION Group shortens its decision-making processes, leverages cross-brand synergies even more effectively and drives profitable growth by implementing a streamlined management structure. In addition to his role as Chief Executive Officer of KION GROUP AG, Gordon Riske is to take over as CEO of the brand companies Linde Material Handling GmbH and STILL GmbH. The previous CEOs, Theodor Maurer and Bert-Jan Knoef, will also, at their own request, leave the Executive Board of KION GROUP AG with effect of today.

"The KION Group is expecting record results for 2014 that will fulfil its ambitious guidance. Mr Knoef and Mr Maurer played a major part in this successful development of the KION Group," says John Feldmann, Chairman of the Supervisory Board of KION GROUP AG. The supervisory boards of KION GROUP AG, Linde Material Handling GmbH and STILL GmbH thank Theodor Maurer and Bert-Jan Knoef for their many years of successful work for the KION Group and its brand companies Linde and STILL.

"In 2015, we aim to create the management structures that will enable the KION Group to successfully implement its Strategy 2020. This includes being able to make decisions faster," says Gordon Riske. "We are looking to further improve our cost and competitive position and to accelerate growth in all markets - including our European home market." On the basis of the successful multi-brand strategy, the KION Group not only aims to remain the top player in the industrial trucks sector in terms of profitability, but also to close the gap to the leading companies in the capital goods industry. At the same time, the company, one of the world's two leading suppliers of forklift trucks, warehouse technology and associated services, plans to increase its capital efficiency and to become more resilient to be able to better cope with economic crises that may occur in future.

By integrating research and development activities even more closely, KION will be able to more quickly leverage cross-brand synergies going forward. Knowledge and expertise is to be shared even more throughout the Group. The pooling of resources should help to ensure the KION brands Linde, STILL, Baoli, Fenwick, OM STILL and Voltas have access to the best possible technical solutions in regard to components, modules and platforms. The aim is to create specific products that are optimally tailored to different markets and segments around the world. Riske: "In the KION Group's future organisational structure, there should be an even stronger focus on the requirements of our customers."

Production is to be optimised and, at the same time, brought closer to the KION Group's global markets. In addition, the company also wants to further strengthen the sales and service organisation and ensure its activities are focused on fulfilling customer needs in the best way possible. There are also plans to step up groupwide collaboration in administrative functions. More efficient structures should simplify and accelerate decision-making processes.

Riske: "In 2015, by pursuing our well-proven multi-brand strategy, we will be taking the next major step towards the KION Group becoming a highly effective, globally successful capital goods company."


Twitter: @kion_group

The Company

The KION Group - comprising the six brands of Linde, STILL, Fenwick, OM STILL, Baoli and Voltas - is the largest manufacturer of industrial trucks in western and eastern Europe, the global number two in the industry and the leading non-domestic supplier in China. The Linde and STILL brands serve the premium segment worldwide. Fenwick is the largest supplier of material handling products in France, while OM STILL is a market leader in Italy. The Baoli brand focuses on the economy segment, and Voltas is a leading provider of industrial trucks in India. The KION Group is present in more than 100 countries and, in 2013, employed over 22,000 people and generated revenue of EUR4.5 billion. KION GROUP AG has been listed on Deutsche Börse's Frankfurt Stock Exchange since June 2013 and was admitted to the MDAX, the German stock index for medium-sized companies, in September 2014.


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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Michael Hauger
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