Manitowoc Appoints Interim President & CEO - Modern Distribution Management

Log In

Manitowoc Appoints Interim President & CEO

Company's third-quarter sales decline 12.5%

The Manitowoc Co. Inc. (NYSE: MTW), Manitowoc, WI, has appointed board member Kenneth Krueger as interim president and CEO. He replaces Glen Tellock, who resigned from those positions at Manitowoc to pursue other opportunities.

The company's board also has initiated a search for a CEO of Manitowoc Cranes. Hubertus Muehlhaeuser will remain CEO of Manitowoc Foodservice.

The company also reported sales of $863.5 million for the third quarter, a year-over-year decrease of 12.5 percent. Profit declined 93.4 percent to $4.8 million.

During the quarter, the foodservice segment had a sales increase of 2 percent to $425.3 million.

For the first nine months, sales were $2.5 billion, down 12.2 percent from the prior-year period. Profit fell 82.2 percent to $19.7 million.

Share this article

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!


articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events



You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.