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Manitou Group appoints new president and CEO

micheldenisJan. 9, 2014 - The Manitou Group's board of directors has announced that Dominique Bamas, President and CEO, has resigned. Mr Bamas was appointed on an interim basis on March 6, 2013 and is resigning in accordance with the agreements made with the Board in order to permit the appointment of Michel Denis as the new President and CEO.


January 9, 2014
By Manitou Group

micheldenisJan. 9, 2014 – The Manitou Group's board of directors has announced that
Dominique Bamas, President and CEO, has resigned. Mr
Bamas was appointed on an interim basis on
March 6, 2013 and is resigning in accordance with the agreements made
with the Board
in
order
to permit the appointment of Michel Denis as the new President and CEO.

Michel Denis will assume his functions
as
of
Monday, January 13, 2014 for a
four

year

term
expiring
at the Shareholders’ Meeting for the approval
of 2017 financial statements.

The Board
members
unanimously expressed
their
appreciation to
Mr
Bamas for having
managed this interim period in the Group’s best interests.
In a context that required
redefining
priorities,
it was essential to facilitate
the return to increased operati
ng
performance, while
reaffirming
the
close human relationship
s
with
co

workers, dealers and
customers.

Marcel Braud, Chairman of the Board, stated:
"First of all, I would like
to express
my gratitude to
Mr
Bamas for
the
work accomplished
in nearly a
year.
After having
assisted the Board for several years as a
Director,
he
made
himself available at a pivotal
moment in our history that required a realignment between profitability and
development.
During this period he stabilis
ed f
inancing
for
the next
five years, reduced
the debt and
initiated
a
combination
of optimis
ation programs
and
developments
from
which
the group should
benefit
in the
up
coming years.
It is our pleasure to welcome
Mr.
Denis whose appointment marks a new chapter in the history of Manitou.
I’m confident
that his experience will permit him to continue the operating reforms
already launched
and accelerate the
Group’s adaption
to the
markets
evolution.
As the leader in
Rough
Terrain
Handling
since decades, our mission is to continue to
serve our customers to the
best of their needs.
Based on the strength and leadership of the group, our goal is to
remain faithful to our historic
motto:
safe
international
development based on
innovation, performance, quality and customer satisfaction."

Michel Denis,
48 and a graduate of “ESSEC”, a French business school and
the "Ecole Centrale de Lyon"
a
French
engineering school, began his career as a
strategy
consultant.
He joined Dalkia in 1994 to develop cogeneration.
He subsequently managed
the French businesses of MC International which
later
became Johnson Controls,
a specialist in industrial and commercial refrigeration.
In 2003
he joined the Fraikin Group,
the European leader in truck rentals, for which he was CEO
until
August
of 2013.
Over the
past 10 years, he accompanied the strong international development of the Fraikin group
which imposed its approach to the design of industrial vehicles, the associated services and
the European financing of its fleet of 60,000 vehicles as a model.

For more information
www.manitou-group.com