Cargotec appoints Casimir Lindholm as President and CEO

CARGOTEC CORPORATION, STOCK EXCHANGE RELEASE, 6 FEBRUARY 2023 AT 9.00 AM EET

Cargotec appoints Casimir Lindholm as President and CEO

Cargotec's Board of Directors has appointed Casimir Lindholm (M.Sc. (Econ.), MBA), b. 1971, as Cargotec's new President and CEO as of 1 April 2023, until which Cargotec’s current President and CEO Mika Vehviläinen will hold his position.

Mr. Lindholm has held CEO positions both in Eltel and Lemminkäinen and many board memberships, bringing a wealth of experience to Cargotec. Casimir Lindholm has been a member of Cargotec's Board of Directors since 2021, and due to his appointment, he will no longer be available for re-election in Cargotec’s AGM on 23 March 2023. 

“I’m honored and excited to be leading Cargotec at such a pivotal moment in the company’s history, with a strong foundation and a clear vision into its next development phase of growth as we have communicated before. With a talented team, a strong portfolio of businesses with decision making close to customers, and a commitment to sustainability and profitable growth, I believe that the company is in an excellent position to create value by empowering our businesses even further in the years to come,” says Casimir Lindholm.

“Casimir is a seasoned leader as a listed company CEO with a proven track record of reshaping businesses. His membership in Cargotec’s Board is an advantage providing profound knowledge and understanding of Cargotec’s business and strategic direction. The work to develop the company to its full potential continues and the Board of Directors is confident that under Casimir’s leadership, Cargotec will continue to drive value for our shareholders and customers. Additionally, I would like to express our gratitude to our retiring CEO Mika Vehviläinen for his leadership and outstanding contributions to our business,” says Jaakko Eskola, Chair of the Board of Directors

The remuneration of Cargotec CEO consists of a fixed monthly salary, fringe benefits, and performance-based incentive programs in line with Cargotec’s remuneration policy. The CEO’s retirement age is in accordance with the applicable legislation.

Mika Vehviläinen was appointed as Cargotec CEO in 2013. Cargotec announced on 20 December 2022, that Mr. Vehviläinen had informed the Board of his intention to retire from Cargotec during 2023, in accordance with the terms of his CEO service contract and that Cargotec’s Board of Directors had initiated a search for a successor for the CEO Mika Vehviläinen. Mr. Vehviläinen will remain at the disposal of the Board of Directors as an advisor until the end of February 2024, after which he will retire. 

A live international telephone conference for analysts, investors and media will be arranged on the publishing day at 3:00 p.m. EET. The event will be hosted by Cargotec’s Chairman of the Board Jaakko Eskola and the appointed CEO Casimir Lindholm. 

To ask questions, please join the teleconference by registering via the following link: https://palvelu.flik.fi/teleconference/?id=10010809. After the registration, the conference phone numbers and a conference ID to access the conference will be provided. Questions can be presented during the conference. For questions, please press *5 on your telephone keypad to join the queue.

The event can also be viewed as a live webcast at https://cargotec.videosync.fi/2023-02-06-webcast. The conference call will be recorded and an on-demand version of the conference will be published at Cargotec’s website later during the day.

Note that by dialling to the conference call, the participant agrees that personal information such as name and company name will be collected.

Cargotec Corporation
Board of Directors

For more information:

Carina Geber-Teir, Senior Vice President, Communications, tel. +358 20 777 4105

Information for investors:
Aki Vesikallio, Vice President, Investor Relations, tel. +358 40 729 1670

Cargotec (Nasdaq Helsinki: CGCBV) enables smarter cargo flow for a better everyday with its leading cargo handling solutions and services. Cargotec's business areas Kalmar, Hiab and MacGregor are pioneers in their fields. Through their unique position in ports, at sea and on roads, they optimise global cargo flows and create sustainable customer value. Cargotec has signed the United Nations Global Compact Business Ambition for 1.5°C. The company's sales in 2022 totalled approximately EUR 4 billion and it employs around 11,500 people. www.cargotec.com