Jungheinrich CFO exits as profits plummet and share price slides
Jungheinrich has announced that its chief financial officer, Heike Wulff, will leave the company earlier than expected. The decision follows a mutual agreement with the supervisory board not to extend her executive mandate. This comes as the forklift manufacturer faces a sharp drop in profits and a declining share price. The company’s earnings before interest and taxes (EBIT) for the first quarter fell by half compared to the same period last year. A strike at its Lüneburg plant and fierce competition in the market added to the financial strain. Meanwhile, Jungheinrich’s market value has shrunk by nearly 30 percent since late 2025, now standing at around €2.6 billion.
The firm remains under family control, with 53 percent of shares held by the heirs of founder Friedrich Jungheinrich. His two daughters’ descendants equally own 54 million voting, non-listed ordinary shares. The remaining 45 million non-voting preferred shares trade on the MDAX.
With Wulff’s departure, CEO Lars Brzoska will take over financial operations on an interim basis. He will lead the finance division until a permanent replacement is found. Jungheinrich now faces the task of stabilising its finances while searching for a new CFO. Brzoska’s temporary oversight of the finance division comes at a critical time for the company. The next steps will determine how quickly the business can recover from its recent setbacks.
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