As per 1 September the Supervisory Board of STILL GmbH has appointed Nikolaus Michelsen (34) to the STILL Management Board. As CFO he will assume responsibility for Finances. The business administrator Michelsen is taking over the post of Thomas Toepfer who has been appointed CFO of the KION Group GmbH the parent company of STILL GmbH. At the same time the Chair of the STILL Management Board Bert-Jan Knoef has been appointed Labour Director.

Nikolaus Michelsen has been Vice President Controlling of the STILL group since 1 July 2010, after he had been Senior Project Manager Business Development/M&A and Project Manager Financial Services for KION GmbH. Before this, from 2003 until 2007, he was in various financial functions at Celanese in the USA and in Germany and from 2001 until 2003 he worked in investment banking at Morgan Stanley.

Gordon Riske, Chair of the Supervisory Board at STILL GmbH said “Mr. Michelsen brings in great and international experience in various financial functions.

In the two past years he has sustainably increased the efficiency of the planning processes and controlling at STILL. This work has provided him with excellent knowledge of the STILL group from an inside view. With this he brings ideal prerequisites for his new task as STILL-CFO.”

Bert-Jan Knoef, Chair of the STILL Management Board said, “We are very pleased that in the person of Mr. Michelsen we were able to win an expert in finances from our own resources for this post. At the same time we are happy for Mr. Toepfer about his new task and responsibility as CFO of our parent company. We greatly thank Mr. Toepfer for the excellent cooperation in the past year and wish him continued success for his new task.”