Executive Chairman of the Board of Hyster-Yale Materials Handling
Chairman, Hyster-Yale Group
Mr. Rankin became Executive Chairman of the Board of Hyster-Yale Materials Handling, Inc. in May 2023. Previously, from February 2021, Mr. Rankin was Chairman and Chief Executive Officer of Hyster-Yale. Prior to that, since September 2012 when Hyster-Yale was spun-off as an independent company by NACCO Industries, Inc., Mr. Rankin was Chairman, President and Chief Executive Officer of Hyster-Yale. He joined NACCO as President and Chief Operating Officer in April 1989, became President and Chief Executive Officer in May 1991, and became Chairman, President, and Chief Executive Officer in May of 1994. In September 2017, he retired as President and Chief Executive Officer of NACCO when NACCO spun-off its housewares-related businesses as Hamilton Beach Brands Holding Company and became Non-Executive Chairman of the Board of NACCO. In October 2017, Mr. Rankin became Executive Chairman of the Board of Hamilton Beach Brands Holding Company. On January 1, 2019 he became Non-Executive Chairman. Prior to joining NACCO, he was Vice Chairman, Chief Operating Officer, and a Director of Eaton Corporation, a position he had held since April 1986. Prior to that, he had served successively as President of Eaton's Materials Handling and Industrial Groups, and Executive Vice President - Operations. Prior to his fifteen years at Eaton, Mr. Rankin worked for McKinsey and Company, a management consulting firm.
Mr. Rankin received a Bachelor of Arts degree, magna cum laude, in Economics and a Juris Doctor degree from Yale University. Mr. Rankin is a director of Hyster-Yale Materials Handling, Inc., NACCO Industries, Inc., Hamilton Beach Brands Holding Company and the National Association of Manufacturers. He is a trustee of the Musical Arts Association, a former trustee and former Chairman of the Board of Directors of University Hospitals of Cleveland, and former trustee and Chair Emeritus of the Cleveland Museum of Art. He is a former lead director of The Vanguard Group and Goodrich Corporation. He is a former director of the Standard Products Company and Reliance Electric Company, and a former director and Chairman of the Board of the Fourth District Federal Reserve Bank. He is trustee emeritus of Case Western Reserve University, former Chairperson of The Cleveland Foundation, and former trustee and President of the Board of Trustees of Hathaway Brown School. He is also a former trustee of Oberlin College, the Holden Arboretum, and the World Resources Institute.