Toyota’s Jim Malvaso Retires, Brett Wood Succeeds

James J. Malvaso, president and CEO of Toyota Material Handling North America (TMHNA), will retire effective April 1, 2012. TMHNA is comprised of Toyota Material Handling, U.S.A, Inc. (TMHU), The Raymond Corporation, provider of electric lift trucks and solutions for warehouse and distribution environments; and Toyota Industrial Equipment Mfg., Inc. (TIEM), Toyota’s forklift manufacturing facility in Columbus, Ind.
Brett Wood, executive vice president of TMHNA and chairman of TMHU, will assume Malvaso’s responsibilities. He also will continue to serve on the boards of TMHU and TIEM.

"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). “Following his formal retirement, I look forward to his continued counsel and support in the capacity of a Toyota Material Handling Group Senior Advisor.”

In 2010, Malvaso was appointed president and CEO of TMHNA, and managing officer of Toyota Industries Corporation (TICO). During this period, he was instrumental in aligning Toyota’s and Raymond’s distribution channels, which contributed to their market performance.

During his almost 15-year tenure as president and CEO of the Raymond Corporation, Malvaso led the company through its sale to BT Industries and then to TICO. Malvaso joined The Raymond Corporation as vice president of Greene Operations in July 1993, focusing on modernizing the Raymond Greene, N.Y., lift truck manufacturing plant, introducing new quality, manufacturing and operational processes and bringing new information technology infrastructures to the company.

The Raymond Corporation board of directors elected Malvaso president and COO in August 1995, and shortly after he was appointed president and CEO in 1997. He was the first North American to be appointed to a managing officer position within TICO. Malvaso is also a member of the board of directors for the Industrial Truck Association (ITA) and served as its president from 2004 to 2007.

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