Cornell steps into the role with a mandate to oversee the company’s financial strategy, accounting, tax, treasury, and investor relations functions. His compensation package includes an initial base salary of $605,000, supplemented by performance bonuses and stock options, as disclosed in filings with the Securities and Exchange Commission.

Before joining Hyster-Yale, Cornell served as president and general manager of the specialty tools and storage solutions unit at Stanley Black & Decker. His background also includes a tenure as CFO of the same firm’s industrial division, providing the operational experience Hyster-Yale prioritized during its recruitment process.