- Push-out Score suggests signs for push-out forces
- After almost nine years on the job
- Thanks and words of regret for Kaml
- Search for a successor
(exechange) — Bergheim, Austria, June 12, 2017 — Christoph Kaml, finance chief of Palfinger, leaves — “at his own request”. As announced by Palfinger AG in a news release on Monday, June 12, 2017, Christoph Kaml leaves the post as Chief Financial Officer at the maker of lifting products in a surprising move after almost nine years on the job, effective August 31, 2017.
Palfinger will undertake a search for a successor.
“To pursue new opportunities”
The management change is explained as follows. Palfinger said: “Christoph Kaml, the Chief Financial Officer of Palfinger AG, informed the Supervisory Board of his intention to retire from office as of the end of August in order to pursue new opportunities.”
The phrase “to pursue new opportunities” opens the door to speculation.
Precise information about the future plans of Kaml was not immediately available.
Share price rise since December 2016
The change follows a rise in the share price of Palfinger AG since December 2016.
Chaired by Hubert Palfinger jun.
Palfinger AG is chaired by Hubert Palfinger jun. He is Chairman of the Supervisory Board.
CEO: Herbert Ortner
Herbert Ortner serves as CEO of Palfinger AG. Herbert Ortner has been the Chief Executive Officer of Palfinger AG since June 19, 2008.
On the job as CFO since 2009
Christoph Kaml has been the Chief Financial Officer and Member of the Management Board at Palfinger AG since January 01, 2009.
Born in 1974, Kaml joined Palfinger Corporate Development in 2004 before he switched to the management of the business area North America domiciled in Niagara Falls, Canada, where he was in charge of finances, strategy and business development.
Since January 2009, Kaml has been Palfinger AG’s Chief Financial Officer.
From August 2012 to June 2015, he was based in China in order to oversee and intensify the cooperation with SANY.
Kaml’s bio reads as follows:
- Born: 25.01.1974 in Salzburg
- Nationality: Austria
- Family status: married, 2 children
- degree high school
- university degree in business administration
- 1999 – 2000 Gemini Consulting, Consultant
- 2000 – 2001 Avelion Management, Managing director
- 2001 – 2004 TCO Transition Company, Authorized representative and project manager
- 2004 – 2005 Palfinger AG, Corporate Development
- 2006 – 2008 Palfinger Inc., Area Manager North America
- since 2009 Palfinger AG, Chief Financial Officer
- Joined the Palfinger Group:15.07.2004
- Chairman of the Supervisory Board of Putzmeister Holding GmbH, Aichtal, Germany.
As a general rule, when a top leader announces to step aside with no successor available, it is a signal that the move was unplanned and too early.
Push-out Score suggests signs for push-out forces
It is not completely certain what forces eventually triggered Christoph Kaml’s move.
The Push-out Score™ determined by exechange suggests that push-out forces may have contributed to the management change.
Read the full story in the exechange report 25.2017 ($).