The Board of Directors of Hyster-Yale Materials Handling, Inc. announced that Rajiv Prasad, President and Chief Executive Officer of the Company’s wholly owned operating subsidiary, Hyster-Yale Group, Inc., has been appointed President of Hyster-Yale Materials Handling effective immediately.

He will hold this new position along with his current position at Hyster-Yale Group. The Board of Directors indicated that this new title better reflects Mr. Prasad’s broad role within Hyster-Yale Materials Handling, which includes oversight responsibilities for all of the Company’s subsidiaries, including its forklift truck business, Hyster-Yale Group, Inc., the Company’s attachment business, Bolzoni, S.p.A., and the Company’s fuel cell business, Nuvera Fuel Cells, LLC.

Alfred M. Rankin, Jr. will remain Chairman and Chief Executive Officer of Hyster-Yale Materials Handling.

Source: Hyster-Yale