NACCO Materials Handling Group (NMHG), the parent company of Hyster Company and Yale Materials Handling Corporation, announces that its vice president of aftermarket, Paul Laroia, has indicated plans to retire. Laroia will stay with the company through the end of the year to ensure a smooth transition.
As a well-respected industry leader and driving force in the success of the company, Mr. Laroia’s career has been marked by a passion for innovation and a dedication to quality service. He joined Hyster Company in 1970, and by the age of 25, had become the youngest manager in the company, overseeing advertising and sales promotions for the Hyster European Headquarters. In 1980, he transferred to the Portland, Ore., corporate office and in 1984 to the Danville, Ill., facility to manage the company’s parts, service and warranty operations. Later Mr. Laroia became the director of group marketing and Latin American operations at the NMHG America’s Headquarters in Greenville, N.C. Then from 2005-2009, he served as president of Hyster Company, and following a subsequent restructuring, as NMHG’s vice president of aftermarket, his current position.
“In his more than 40 years with the company, Mr. Laroia has been a driving force for positive change and continuous improvement, as well as a great source of insight and institutional knowledge” said Colin Wilson, president and chief executive officer, NMHG. “His stellar leadership and vision have helped us achieve the success we enjoy today and set the path for future innovation.”
During his tenure, Mr. Laroia utilized his vast expertise to implement global best practices, effectively engage dealers and suppliers and help foster the development of multiple company leaders. He is the brains behind the Hyster UNISOURCE™ aftermarket parts program, a one-stop-shop for forklift parts and accessories, and was integral in the development of the company’s price match and availability guarantee programs.
Mr. Laroia has not only displayed a long-term commitment to the company itself, but also as an industry thought leader and contributor. He has served on the board of directors of the Industrial Truck Association (ITA) since 2006, and was part of the board’s executive committee for seven years. Additionally, Mr. Laroia served on the Alliance of Industrial Truck Organization’s management committee from 2009-2013.
“Throughout his career, Mr. Laroia has been an advocate of initiatives that have, and will continue to make our industry better, and has been a champion of international dialogue to level the global playing field,” said Brian Feehan, president, ITA. “When called upon, he has served tirelessly in many roles for the good of the industry and association. His valuable input will be missed a great deal.”
Mr. Laroia, who graduated with honors from The London School of Economics and holds an MBA from the University of Strathclyde in Scotland, will retire to Palm Beach, Fla., where he will focus on travel, hobbies and spending more time with his wife, children and grandchildren.
