Manitou has appointed Michel Denis as its new president and CEO.
It comes as current CEO Domnique Bamas announces his retirement, less than a year after being appointed to the position on an interim basis.
Denis will officially step into the role on Monday, 13 January, for a four year term in the role.
Manitou’s Board thanked Bamas, who steered the company during a period “that required redefining priorities…to facilitate the return to increased operating performance while reaffirming the close human relationships with co-workers, dealers, and customers”.
Marcel Braud, Manitou’s chair, added that “he made himself available at a pivotal moment in our history that required a realignment between profitability and development”.
“During this period his stabilised financing for the next five years, reduced the debt and initiated a combination of optimisation programs and developments which the group should benefit from in the upcoming years.”
Braud went on to welcome Denis to the position, stating that “his experience will permit him to continue the operating reforms already launched and accelerate the Group’s adaption to the market’s evolution”.