Oshkosh Names New President At JLG Industries
JLG Industries’ parent company Oshkosh Corp. has announced that Frank Nerenhausen has replaced Wilson Jones as president of JLG Industries. The change in leadership at the access equipment manufacturer was effective Aug. 1.
Oshkosh, a Wisconsin-based manufacturer of speciality vehicles and vehicle bodies, made the change-in-leadership announcement in June.
Nerenhausen takes over from Wilson Jones, who has led JLG and Oshkosh Corp.’s access equipment segment since 2010.
According to a released statement, Nerenhausen is now president of Oshkosh’s accessequipment segment, as well as JLG’s, and remains an Oshkosh Corp. executive vice president. He had been an Oshkosh Corp. executive vice president and president of the company’s commercial segment and McNeilus since 2010.
Oshkosh said that Nerenhausen has been a driving force in improving the operational efficiencies of its commercial segment, promoting compressed natural gas-powered vehicle initiatives and leading the segment to profitability in spite of extremely low industry volumes.
Nerenhausen brings to JLG 26 years of experience in key executive sales and finance positions at Oshkosh.
Jones has been promoted to president and chief operating officer of Oshkosh Corp.
In his new capacity, Jones will lead and direct all aspects of the access-equipment, fire and emergency and commercial segments, along with company’s Asian operations. He will report to Charlie Szews, Oshkosh Corp. president and chief executive officer.
Oshkosh said that under Jones’ leadership, the accessequipment segment has accelerated global expansion and new product development in preparation for the global recovery in access equipment markets.
Oshkosh Corp.’s third-quarter earnings report released July 26 showed higher-than-forecasted profits as a result of higher sales in all non-defense businesses, particularly access equipment.
The replacement of aging equipment such as aerial work platforms, boom and scissor lifts, and towing products increased sales, particularly in North America, by more than 40 percent to $814.6 million.
Oshkosh expects sales of access equipment for full fiscal 2012 to be up 35 to 40 percent over fiscal 2011 totals.
JLG’s performance has improved enough for investor Carl Icahn that last Thursday Icahn called for Oshkosh to spin-off JLG. Ichan Associates is the largest Oshkosh shareholder at 9.5 percent. According to Reuters, Icahn believes that JLG can now operate as a stand-alonebusiness.
Icahn had also pushed for a reassessment of JLG in January, but, according to Reuters, Oshkosh shareholders voted down an Icahn-backed slate of directors at the company’s annual meeting.
Oshkosh bought JLG Industries in 2006 for about $3 billion.