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Transition of management at Modern Group with ascension of Paul Farrell to CEO planned for May 1

Modern Group, one of the USA’s largest distributors of materials handling equipment, forklifts, construction equipment, and power systems, announced the appointment of Paul Farrell as CEO & President effective May 1, 2013. Paul had previously been named President in November 2012. Dave Griffith, who had been Chairman/CEO will retain his role as Modern Group Chairman.

"The promotion of Paul to CEO is the natural evolution of a plan that has been in place for several years. Paul’s leadership is extraordinary and as a team we’ve successfully managed the company through the recent recessionary years. Our future is strong and Paul is a great choice to be the 3rd CEO in our 67-year company history", said Dave Griffith, Modern Group Chairman.

"Working with Dave has been an invaluable experience in learning all the facets of Modern’s business. His business acumen is second to none and his continued role as Chairman allows us the opportunity to continue to assess his experience", said Paul Farrell. "Dave has been at Modern since 1992 and has managed the company during years of major change in all areas of the industry. We have been fortunate to have had him as the leader, and he will continue to provide his wisdom as our Chairman. The future opportunities are limitless for Modern and we are well positioned to achieve future success. Our performance this fiscal year is strong and the future is very bright", he added.

Paul Farrell had joined the company in 2004. Paul is a Rutgers University graduate and is a Six Sigma Black Belt. He lives in Medford, NJ with his wife, Denise, and three children.

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