Linde Material Handling GmbH's new CEO is Gordon Riske, chairman of Cologne-Porz, Germany-headquartered Deutz AG's management board.
US-born Riske, 49, will continue working for engine-maker Deutz until his successor is appointed, but not later than September 30, a Deutz statement announced on Monday.
Riske will also join Kion Group GmbH's executive board and represent Linde Material Handling on Kion Group's executive committee.
Linde Material Handling became a separate legal entity after its former holding company, Linde AG, of Wiesbaden, Germany, planned to expand its gas business with the BOC plc acquisition (
Forkliftaction.com News #270).
Before Linde AG sold its forklift business to the KKR-Goldman Sachs consortium, it grouped its three forklift brands, Linde, Still and OM, into a holding company, Kion Group (
Forkliftaction.com News #276). The three brands continue to be managed independently but cross-brand issues are managed by Kion's executive committee.
Riske, an electrical engineer, began his career with DeVlieg Machine Company, in Royal Oak, Michigan, in 1977. He left DeVlieg for Kuka Welding Systems & Robot Corp, in Sterling, Michigan, in 1982. He was vice president of the robotic systems division before moving to Kuka Schweissanlagen & Roboter GmbH as divisional manager for robots & control technology, in Ausburg, Germany. He was made a director in 1996 and managing director in 1998. In February 2000, Riske left the company to become Deutz AG's management board chairman. He completed an MBA at the Graduate School of Business Administration, in Zurich, Switzerland, in 2001.
Kion Group CEO Hubertus Krossa said Riske was a top manager with "a great deal of capital market experience".
"With his international experience in the mechanical engineering and motive engineering sectors, Gordon Riske, together with our CFO Dr Nedim Cen will ensure long-term continuity on Kion Group's executive board."
Krossa said Riske's CEO position in Linde was "ideally placed" as it would familiarise him with the company and prepare him to succeed Krossa as Kion's CEO in the medium term.
Riske succeeds Dr Stefan Rinck as Linde Material Handling CEO. Rinck will assume responsibility for Linde Hydraulics and remain on Kion Group's executive committee.
Giuseppe Vita, Deutz AG supervisory board chairman, said the company regretted Riske's imminent departure and was seeking his successor.
"[We] would like to express our gratitude and respect for everything he has achieved. We are confident of finding a suitable candidate very soon."
At March 28, 2007, Deutz AG employed 5,327 employees. The company's revenue for 2006 totalled EUR1,490 million (USD2,026.8 million), up 12.6 per cent from 2005's EUR1,322.8 million (USD1,799.4 million). Unit sales jumped 21.2 per cent to 237,293 in 2006 from 195,843 in 2005. Deutz's second Chinese joint venture is planned to be established in mid-2007.