John Feldmann has informed KION GROUP AG that he is resigning as chairman of the Company's Supervisory Board at the conclusion of the 2019 Annual General Meeting. The Supervisory Board's Nomination Committee proposes that Michael Macht and Tan Xuguang, chairman of Weichai Power, to rejoin the Supervisory Board as shareholder representatives. Michael Macht is to be nominated for election as chairman of the Supervisory Board.
The relevant Supervisory Board motions for the Annual General Meeting (AGM) will be drawn up at the end of February and will be published with the notice convening the Company's AGM, which takes place in May. The Supervisory Board is scheduled to elect its new chairman immediately following the AGM.
Michael Macht, a mechanical engineer, was a Member of the Board of Management of Volkswagen AG with responsibility for Group Production from 2010 to 2014. From 1998 to 2010, he served on the Executive Board at Porsche AG, and most recently as the company's Chief Executive Officer. In June 2018, Michael Macht became a non-executive member of Weichai Power's Board of Directors. He joined the Supervisory Board of KION GROUP AG in October 2018.
John Feldmann has been chairman of the Supervisory Board of KION GROUP AG since 2011. During his tenure, he has played a key role in the KION Group's transformation from a European industrial truck manufacturer into one of the world's leading providers of intralogistics and automation solutions. The company has been listed on the MDAX since 2013. During John Feldmann's time as Supervisory Board chairman, the company has put in place an Executive Board that is diverse, international and equipped with the necessary expertise for the future. In addition, the composition of the Supervisory Board has evolved to ensure that it can tackle the strategic challenges of digitalization.
"We owe a huge debt of gratitude to John Feldmann for the enormous commitment that he has shown in supporting the KION Group as chairman of the Supervisory Board over the past eight years," says Gordon Riske, CEO of KION GROUP AG. "He has demonstrated a sense of obligation toward all of the company's stakeholders and played a significant role in implementing the German Corporate Governance Code in the Group. With his vast international experience and strategic foresight, he has been a highly appreciated advisor to me and the entire Executive Board. On behalf of the Executive Board and the entire workforce, I would like to express our sincere thanks for the close and collaborative working relationship during his time as chairman of the Supervisory Board. We are pleased that Michael Macht has agreed to be nominated for election as chairman of the Supervisory Board. In his new role, he will build on the long-term continuity at the helm of the Supervisory Board. We look forward to continuing to work with him."