Toyota Material Handling NA announces new president and CEO

Toyota Material Handling North America (TMHNA) has announced the retirement of its president and chief executive officer James J. Malvaso, effective April 1, 2012. Brett Wood, current executive vice president of TMHNA and chairman of THMU, will take over as its president and CEO. Wood will assume the responsibilities of Malvaso effective April 1, 2012. He also will continue to serve on the boards of TMHU and TIEM.

TMHNA is comprised of Toyota Material Handling, U.S.A, Inc. (TMHU); The Raymond Corporation; and Toyota Industrial Equipment Mfg., Inc. (TIEM), Toyota's forklift manufacturing facility in Columbus, Ind.

"Jim has been a tremendous leader for The Raymond Corporation, TMHNA and the entire material handling industry," stated Kazue Sasaki, president of Toyota Material Handling Group (TMHG). "His leadership capabilities, coupled with his strategic vision, have significantly contributed to the organization's success and market-leading position. Following his formal retirement, I look forward to his continued counsel and support in the capacity of a Toyota Material Handling Group Senior Advisor."

Before becoming executive vice president of TMHNA, Wood held the position of TMHU president now held by Jeff Rufener. Prior to that, he served as vice president of marketing, dealer development, product, strategic planning and training operations. He has also served as the chairman of the General Engineering Committee for the ITA and is now a member of ITA's Executive Committee and Board of Directors. Additionally, Wood is a member of the Material Handling Industry of America Roundtable of Industry Leaders. Wood contributes to both Modern Materials Handling magazine's editorial advisory board and the Electric Power Research Institute's Industry Advisory Council.

"Brett's extensive experience in the material handling industry and knowledge of both the Toyota and Raymond companies, have prepared him to be highly successful in his new role," stated Malvaso. "I look forward to working with Brett over the next several months to ensure a continued commitment to the established TMHNA strategy and a seamless leadership transition."

Wood has a bachelor's degree in mechanical engineering from Cornell University in Ithaca, NY.