Kion replaces CFO with executive from British energy firm

German material handling giant Kion Group AG said today it has hired Anke Groth, chief financial officer of a British energy company, to be its new CFO.

Groth replaces Thomas Toepfer, who is leaving Kion on March 31 to become CFO at Covestro AG, a German polymer materials manufacturer that was spun off from Bayer AG as an independent company in 2015.

Frankfurt-based Kion said that Groth, who worked at Coventry-based E.ON UK plc, a British subsidiary of the German power and gas company E.ON, will also join its executive board. Her duties will encompass controlling, accounting, tax, corporate finance, legal, investor relations, mergers and acquisitions (M&A), and information technology (IT). In addition, she is taking on the role of labor relations director in charge of human resources and health, safety, and the environment (HSE).

In addition to her experience as a CFO, Groth brings a track record in capital markets communication, M&A process management, and cooperation with employee representatives during integration and transformation processes, according to a statement from Kion Group CEO Gordon Riske.

Earlier this month, Kion announced a steep jump in revenue for 2017 and said it was updating its business strategy to adapt to the industry trends of digitalization, automation, and the Internet of Things (IoT). Kion attributed its $9.4 billion revenue last year to the impact of its 2016 acquisition of logistics systems integrator Dematic Corp. and a rapid expansion in the industrial trucks and services segment, which includes forklifts, warehouse technology, and related services.