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Material Handling Headlines

Today, Toyota Material Handling, U.S.A., Inc. (THMU) CEO Shankar Basu announced his retirement, effective immediately.

In addition to serving as CEO, Basu served on the TMHU board, held a spot as a director of Toyota Industrial Equipment Mfg., Inc. and was a member of the Material Handling Industry of America's Roundtable of Industry Leaders.

Toyota Industries Corporation President Ted Toyoda commented on Basu's decision in a congratulatory letter. "As a direct result of your efforts, Toyota has surpassed all of its competitors to capture the number one market share position in the U.S. since 2002."

Basu's successor will be Brett Wood, a 20-year veteran of the company who has served as president since 2008. Said Wood of today's news, "Shankar has been a tremendous leader for Toyota. I'm thankful to have worked by his side during my 20-year tenure at Toyota. I will continue to advance Toyota's leadership position with many of the strategies that he introduced."

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