HYSTER-YALE MATERIALS HANDLING, INC. ANNOUNCES CFO SUCCESSION PLAN

CLEVELAND, Aug. 10, 2022 /PRNewswire/ -- Hyster-Yale Materials Handling, Inc. (NYSE: HY) announced that Kenneth C. Schilling, Senior Vice President, Chief Financial Officer and Treasurer, intends to retire from the Company effective December 31, 2022, after a 31-year career with Hyster-Yale and its predecessor parent company, NACCO Industries. In the context of this retirement, the Board of Directors has appointed Scott A. Minder, currently the Vice President – Treasurer and Investor Relations of ATI Inc., to succeed Mr. Schilling as Senior Vice President, Chief Financial Officer and Treasurer effective August 29, 2022. At that time, Mr. Schilling will become Senior Vice President – Special Financial Advisor to the Chairman to help ensure a seamless transition until his retirement date.

During Mr. Schilling's tenure as Chief Financial Officer and Treasurer, he has been a key member of the Hyster-Yale senior management team. He has directed important strategic financial initiatives, including guiding Hyster-Yale through its spin off from NACCO Industries in September 2012. Further he has been an important influence on enabling the Company to best leverage its resources for investments in the people, products and processes that are setting the path for the Company's long-term growth. Mr. Schilling's service to the Company over the past 31 years has been outstanding and the senior leadership team is grateful that Mr. Schilling will lend his experience and expertise to ensuring a successful transition of the Chief Financial Officer and Treasurer role to Mr. Minder.

Mr. Minder most recently served as Vice President – Treasurer and Investor Relations of ATI Inc. since June 2018, having previously served as Vice President, Investor Relations since joining ATI in June 2017. Previously he worked for PPG Industries from 2009 to 2017 in various financial roles, including Director, Investor Relations, Global Business Controller – Industrial Coatings, Packaging Coatings and CFO-Automotive OEM Coatings. Prior to joining PPG Industries in 2009, Mr. Minder was CFO for the automotive division and Director, Global Quality at Penske Logistics. Mr. Minder also had a distinguished 11-year career with General Motors that spanned several positions of increasing responsibility within the finance function, including roles in manufacturing, marketing and corporate locations, culminating in investor relations. He has a B.S. in Management from Kettering University and a Master of Business Administration from Duke University.

In his role as Senior Vice President, Chief Financial Officer and Treasurer, Mr. Minder will oversee Hyster-Yale's finance, investor relations, tax and treasury functions.

Mr. Minder's selection is the outcome of an in-depth process to ensure that Mr. Schilling's successor has an extensive background in financial leadership, including treasury and process improvement, as well as financial oversight and participation in the Company's strategic initiatives. Mr. Minder's expertise makes him an outstanding successor as Hyster-Yale's next CFO and Treasurer. His breadth of financial expertise and background as a strong business leader, particularly in the automotive industry, is expected to serve the Company well as it continues to invest in its long-term growth strategy.

About Hyster-Yale Materials Handling

Hyster-Yale Materials Handling, Inc., headquartered in Cleveland, Ohio, offers a broad array of solutions to meet the specific materials handling needs of customers' applications. The Company's wholly owned operating subsidiary, Hyster-Yale Group, Inc., designs, engineers, manufactures, sells and services a comprehensive line of lift trucks and aftermarket parts marketed globally primarily under the Hyster^® and Yale^® brand names. Subsidiaries of Hyster-Yale Group include Bolzoni S.p.A., a leading worldwide producer of attachments, forks and lift tables marketed under the Bolzoni^®, Auramo^® and Meyer^® brand names, and Nuvera Fuel Cells, LLC, an alternative-power technology company focused on fuel cell stacks and engines. Hyster-Yale Group also has significant joint ventures in Japan (Sumitomo NACCO) and in China (Hyster-Yale Maximal). For more information about Hyster-Yale Materials Handling, Inc. and its subsidiaries, visit the Company's website at www.hyster-yale.com. 

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SOURCE Hyster-Yale Materials Handling, Inc.