• Kevin Lavallee, COO Field and CEO for the Americas will retire effective October 31, 2022

Düsseldorf, October 21, 2022 – After more than 30 years of service, Chief Operating Officer (COO) Field and Chief Executive Officer (CEO) for the Americas, Kevin Lavallee, will leave TK Elevator for retirement on October 31, 2022. At this time, he will also resign his position as a member of the Management Board of TK Elevator GmbH and of TK Elevator U.S. Newco Inc.

Mr. Lavallee began his career as an elevator technician in 1984 and worked his way up to become CEO in Canada before his early retirement in 2011. In 2019, he re-joined the organization as the CEO of North America successfully leading the business unit through the creation of TK Elevator’s independence from Thyssenkrupp, the COVID-19 pandemic, and resulting supply chain impacts. Taking up additional responsibility as COO for field operations, Mr. Lavallee became a member of the TK Elevator Management Board in 2021 while continuing to lead the North American business unit as CEO.

"We would like to thank Kevin Lavallee for his leadership and contribution to the growth and development of TK Elevator over the years," said Uday Yadav, CEO TK Elevator. "He has always been passionate about the company and has made an impactful difference to our Field organization. I have valued him greatly as a colleague and we wish him the very best in the next phase of his life."

A search for a successor to the CEO North America position is currently underway. The planned retirement enables a seamless transition of management responsibilities in close coordination with the current members of the Management Board.

INVESTOR RELATIONS CONTACT

Christian Schulte
Head of Investor Relations
Tel:         +49 211 5400 413 417
Email:     christian.h.schulte@tkelevator.com

Nicole Getta
Vice President Investor Relations
Tel:         +49 211 5400 413 193
Email:     nicole.getta@tkelevator.com

ABOUT US

TK Elevator

With customers in over 100 countries served by more than 50,000 employees, TK Elevator achieved sales of around €8 billion in the fiscal year 2020/2021. Over 1,000 locations around the world provide an extensive network that guarantees closeness to customers. Over the past decades, TK Elevator has established itself as one of the world’s leading elevator companies and became independent since its separation from thyssenkrupp AG in August 2020. The company’s most important business line is the service business represented by over 24,000 service technicians. The product portfolio covers commodity elevators for residential and commercial buildings to cutting-edge, highly customized solutions for state-of-the-art skyscrapers. In addition, it also consists of escalators and moving walks, passenger boarding bridges, stair, and platform lifts. Integrated cloud-based service solutions, such as the MAX platform, are gaining in importance. With these digital offerings, there are no limits to urban mobility anymore. TKE – move beyond.