Our businesses:



Cargotec’s governance and management are based on the Finnish Limited Liability Companies Act and Securities Markets Act, as well as the company’s Articles of Association and Code of Conduct. Cargotec class B share is listed at Nasdaq Helsinki and the company complies with the rules and guidelines of Helsinki Exchange and the Finnish Financial Supervision Authority. Cargotec complies with all the recommendations of the Finnish Corporate Governance Code 2020, published by the Securities Markets Association (

Decision-making procedure

Remuneration at Cargotec is managed through clearly defined processes and involves the Annual General Meeting of Shareholders (AGM), the Board of Directors (Board) and the Board’s Nomination and Compensation Committee (NCC). The AGM resolves annually on the remuneration of members of the Board of Directors, based on a proposal made by the Board’s Nomination and Compensation Committee (NCC). In determining such remuneration, the committee takes account of the Board members’ responsibilities and obligations towards the company. Furthermore, the committee compares the Board’s remuneration packages to those paid by other companies of the same size operating in a comparable business  environment.  

Cargotec’s remuneration policy is applied in determining the total remuneration of the CEO and the Deputy CEO (if any). The remuneration policy is approved by the Board of Directors and the AGM. Based on a proposal by the NCC, the Board also decides on the Leadership Team salaries, as well as their short-term incentive programmes and benefits. In addition, the Board of Directors decides on long-term incentive programmes and on the target group and allocation of such programmes based on a proposal by the NCC.

Board remuneration

Based on the decision of the AGM of 23 March 2021, the Board’s annual remunerations are as follows:
• Chairman: EUR 85,000
• Vice Chairman: EUR 60,000
• Chairman of the Audit and Risk Management Committee: EUR 60,000
• Other Board members: EUR 45,000

In addition, a fee of EUR 1,000 is paid for attendance of meetings of the Board and its committees.


Merger remuneration for CEO

To ensure Cargotec’s business performance, successful execution of the merger of Cargotec Corporation and Konecranes Plc, and shareholder value creation in 2021, Cargotec has extended a retention incentive programme to the CEO. The value of the retention programme is EUR 1,500,000, and the payment under the programme will be paid as a one-off payment to the CEO’s supplemental pension plan under the new pension agreement after the completion of the merger. The payment is subject to the following preconditions: the merger is completed, the CEO continues in the service of the company, he has not served a notice of termination prior to the completion of the merger and has performed his duties according to his contract.


What do you think of the site?