‘New chapter’ for French materials handling company
Manitou Group has appointed Michel Denis as the new President and CEO, as the manufacturer of rough terrain handling and industrial material handling equipment looks to return to full market strength.
The company, whose brands include Manitou and Gehl, had revenue of $1.73 billion in 2012. Denis was appoointed to a four-year term, expiring in 2017.
Marcel Braud, chairman of the board, thanked the outgoing interim CEO Dominque Bamas.
“After having assisted the Board for several years as a Director, he made himself available at a pivotal moment in our history that required a realignment between profitability and development. During this period he stabilised financing for the next five years, reduced the debt and initiated a combination of optimisation programs and developments from which the group should benefit in the upcoming years.
“It is our pleasure to welcome Denis whose appointment marks a new chapter in the history of Manitou. I’m confident that his experience will permit him to continue the operating reforms already launched and accelerate the Group’s adaption to the markets evolution. As the leader in Rough Terrain Handling since decades, our mission is to continue to serve our customers to the best of their needs. Based on the strength and leadership of the group, our goal is to remain faithful to our historic motto: safe international development based on innovation, performance, quality and customer satisfaction.”
Denis, 48 is a graduate of ‘ESSEC’, a French business school and the ‘Ecole Centrale de Lyon’ a French engineering school. He has worked as a strategy consultant, later managing the French businesses of MC International which became Johnson Controls. In 2003 he joined the Fraikin Group, a major European truck rentals player, for which he was CEO until August of 2013. During his 10 years at Fraikin the company saw strong international development, and imposed its approach to the design of industrial vehicles, the associated services and the European financing of its fleet of 60,000 vehicles as a model.