Jungheinrich CFO exits as earnings plummet and leadership reshuffles

Jungheinrich has announced a major change in its leadership after reporting a sharp drop in earnings. The company’s chief financial officer, Heike Wulff, will leave early following a mutual agreement with the supervisory board. Her departure comes as the industrial truck manufacturer faces growing financial challenges. Wulff joined Jungheinrich’s executive board in early 2026, with her contract originally due to run until May 2027. However, the supervisory board and Wulff agreed not to extend her mandate. CEO Lars Brzoska will now take over financial operations on an interim basis until a permanent replacement is found.

The decision follows a difficult first quarter, during which the company’s earnings before interest and taxes (EBIT) halved compared to the same period last year. Jungheinrich cited intense competitive pressure and a strike at its Lüneburg plant as key factors behind the decline. These struggles have also weighed on its market value, which has fallen by nearly 30 percent since late 2025, dropping to around €2.6 billion.

Jungheinrich remains majority-owned by the family of its founder, Friedrich Jungheinrich. The 54 million voting, non-listed ordinary shares are equally held by the families of his two daughters, accounting for 53 percent of all shares. The remaining 45 million non-voting preferred shares are publicly traded and listed on the MDAX. With Wulff’s exit, Brzoska will manage both his CEO duties and the finance division for now. The company must now stabilise its financial performance while searching for a new CFO. The leadership change adds to the pressure as Jungheinrich works to recover from its recent setbacks.