PALFINGER: Changes in the Executive Board

Martin Zehnder, responsible as COO for Research & Development, Production, Purchasing and Supply Chain, is leaving the Executive Board of PALFINGER AG after 15 years. Following intensive discussions with the Supervisory Board, Martin Zehnder has decided not to extend his term as a member of the Executive Board and is resigning by mutual agreement with immediate effect.

Martin Zehnder has made a significant contribution to the company's global success and its position as world market leader. With PALFINGER's transformation into a technology company, Zehnder believes that the time has now come to hand over his mandates. This guarantees continuity of responsibility for the transformation process over the long term and ensures the company's security and economic success, particularly in volatile times. That is why, following intensive discussions with the Supervisory Board, Martin Zehnder has decided not to extend his term as COO and to make the post available immediately.

The Supervisory Board and the Palfinger family would like to thank Martin Zehnder for the more than 18 years of successful work he gave the company. Under his responsibility, PALFINGER has made significant progress strengthening and expanding its position as world market leader in the industry. As a long-serving member of the Executive Board who has played a key role in the company's history, he remains associated with the strategic realignment of the company, the expansion of the global production and supplier network, and the implementation of the GLOBAL PALFINGER ORGANIZATION (GPO). The company appreciates his loyalty and commitment over the past 18 years, making PALFINGER ideally positioned for the future.