Jungheinrich CFO Heike Wulff exits early as financial woes deepen
Jungheinrich has announced the early departure of its CFO, Heike Wulff, after just over a year in the role. The company’s financial struggles, including a sharp drop in earnings and market value, have led to a reshuffle in its leadership team. Wulff joined the industrial truck manufacturer’s executive board in early 2026, with her contract initially set to run until May 2027. However, following a mutual agreement with the supervisory board, her mandate will now end ahead of schedule. The decision comes as Jungheinrich faces mounting challenges, including a 30% decline in market capitalisation since late 2025, reducing its value to around €2.6 billion.
The company’s earnings before interest and taxes (EBIT) also halved in the first quarter compared to the same period last year. A strike at its Lüneburg plant and fierce competition in the sector added to the financial strain. In response, CEO Lars Brzoska will take over financial operations on an interim basis until a permanent replacement is found.
Jungheinrich remains under the control of its founding family. The 54 million voting ordinary shares, representing 53% of the total, are equally split between the descendants of Friedrich Jungheinrich’s two daughters. The remaining 45 million non-voting preferred shares trade publicly on the MDAX. With Wulff’s departure, Brzoska will manage both CEO and CFO duties for now. The company must stabilise its finances amid ongoing market pressures. A permanent successor for the finance role is expected to be named in due course.
