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Governance

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. In 2019, Cargotec complied with all the recommendations of the Finnish Corporate Governance Code 2015, published by the Securities Markets Association and as of 1 Jan 2020, Cargotec complies with the Corporate Governance Code 2020 (www.cgfinland.fi).

CEO

The Board appoints Cargotec’s CEO and determines the related terms of employment. The CEO is responsible for ensuring that the targets, plans, guidelines and goals set by the Board are carried out within Cargotec. According to the Finnish Limited Liability Companies Act, the CEO ensures that the accounting practices of the company comply with the law and that financial matters are handled in a reliable manner. The employment terms of the CEO are defined in a written employment contract.

Cargotec's CEO is Mika Vehviläinen, (b. 1961), M.Sc., Master of Science (Economics).

Leadership Team

Supporting the CEO in his duties, the Leadership Team (the Executive Board until 25 April 2019) is responsible for business development and the Company’s operational activities in accordance with targets set by the Board of Directors and the CEO. The Leadership Team also defines operative principles and procedures in accordance with guidelines set by the Board. The Leadership Team convenes regularly and concentrates on the strategic issues of the group and the business areas. On the agenda there are regular reports and questions concerning the development of the financials, governance, human resources, sustainability and development projects. The CEO acts as Chairman of the Leadership Team. 

The members of the Leadership Team are

Mika Vehviläinen, CEO
Mikko Puolakka, Executive Vice President, CFO
Stefan Lampa, President, Kalmar Mobile Solutions
Antti Kaunonen, President, Kalmar Automation Solutions
Scott Phillips, President, Hiab
Michel van Roozendaal, President, MacGregor
Outi Aaltonen, Senior Vice President, General Counsel 
Carina Geber-Teir, Senior Vice President, Communications
Mikael Laine, Senior Vice President, Strategy
Soili Mäkinen, CIO, Senior Vice President, Digitalisation
Mikko Pelkonen, Senior Vice President, Human Resources

 

Mika Vehviläinen

CEO

b. 1961, Finnish, M. Sc. (Econ.)

Ownership of shares 30 Sep 2020:
122,888 B shares

Employed by Cargotec 2013–
Chairman of the Leadership Team 2019–
Chairman of the Executive Board 2013–2019

Prior work experience:
President and CEO, Finnair Plc 2010–2013
COO, Nokia Siemens Networks 2007–2009
Employed by Nokia, holding different positions 1991–2007

Key positions of trust:

Member of the Board:
Danfoss A/S 2018–

Vice Chairman of the Board:
Elisa Corporation 2014–2018, member 2012–2018
Vacon Plc 2010–2014, member 2009

Mikko Puolakka

Executive Vice President, CFO

b. 1969, Finnish, M.Sc. (Econ)

Ownership of shares 30 Sep 2020:
24,677 B shares

Employed by Cargotec 2016–
Member of the Leadership Team 2019–
Member of the Executive Board 2016–2019

Prior work experience: 
CFO, Outotec Oyj 2010–2016
CFO, Elcoteq SE 2007–2010
Director Finance Europe, Elcoteq SE 2004–2007
Manager Finance, Elcoteq AG 2001–2003
Operations Controller, Huhtamaki Oyj 1999–2001
Manager Finance, Leaf Poland Sp. Z.o.o. 1997–1999
Various treasury positions in Huhtamaki in Switzerland and Finland 1995–1997

Key positions of trust:

Member of the Board of Directors, Okmetic Oyj 2012–2016

Stefan Lampa

President, Kalmar Mobile Solutions

b. 1964, Swedish, EMBA

Ownership of shares 30 Sep 2020:
16,513 B shares

Employed by Cargotec 2019–
Member of the Leadership Team 2019–
Member of the Executive Board 2019–

Prior work experience:
CEO, KUKA Robotics (Germany) 2015–2019
Employed by ABB 1992–2015:
Global Head, Robots & Applications 2011–2015
Several leadership positions in Robotics and R&D in Spain, Mexico, USA and Sweden

Antti Kaunonen

President, Kalmar Automation Solutions

b. 1959, Finnish, Doctor of Technology (Dr.Tech) 

Ownership of shares 30 Sep 2020:
14,293 B shares

Employed by Cargotec 2015–
Member of the Leadership Team 2019–
Member of the Executive Board 2016–2019

Prior work experience:
Voith, Germany 2007–2015
Metso (Neles, Valmet and Kajaani), Finland and China 1986–2007
Tampere University of Technology, Finland, Professor 1998–2007 (part time)
Tampere University of Technology, Finland 1983–86

Key positions of trust:
Member of the Board
Glaston Corporation 2018–
Jiangsu Rainbow Heavy Industries Co., Ltd. 2017–
Foundation of the Tampere University of Technology 2014–2018

Special honors
Honorary doctorate from Petrozavodsk State University, Russia on 14 September, 2005

Scott Phillips

President, Hiab

b. 1966, US Citizen, MBA, B.Sc (Ind.Tech.)

Ownership of shares 30 Sep 2020:
18,829 B shares

Employed by Cargotec 2018–
Member of the Leadership Team 2019–
Member of the Executive Board 2018–2019

Prior work experience:
Vice President and CEO Mining, General Electric 2016–2018

President Global Equipment, Sandvik Mining 2013–2016

President Loading & Hauling, Sandvik Mining 2012–2013 

Executive Director of the Board of Directors, Freeman Financial Corporation Ltd. 2008–2012

Chairman of the Board, Signal Capital Group Ltd. 2007–2009

Managing Director and further positions, Caterpillar Inc. 1991–2006

Michel van Roozendaal

President, MacGregor

b. 1963, Dutch citizen, M. Sc. (Aerospace Eng.), MBA 

Ownership of shares 30 Sep 2020:
33,449 B shares

Employed by Cargotec 2015–
Member of the Leadership Team 2019–
Member of the Executive Board 2015–2019

Prior work experience:
Vice President and General Manager, Ingersoll Rand, Thermo King Division, Global Marine, Rail and Bus Businesses (Belgium) 2013 – 2015
Vice President, Ingersoll Rand, Services, Contracting and Aftermarket, EMEIA (Belgium) 2010 – 2012
Managing Director, United Technologies Fire & Security (Netherlands) 2007 – 2009
President, Europe, Danaher Motion (Germany) 2004 – 2006
Vice President, North Europe Region, Johnson Controls (Belgium) 2000 – 2004
Several positions in Honeywell 1991 – 2000

Outi Aaltonen

Senior Vice President, General Counsel

b. 1965, Finnish, LL.M

Ownership of shares 30 Sep 2020:
6,195 B shares

Employed by Cargotec 2005–
Member of the Leadership Team 2019–
Member of the Extended Executive Board 2013–2019

Prior work experience:
SVP, General Counsel, Cargotec 2005–
VP, Senior Legal Counsel, KONE Oyj 2003-2004
Legal Counsel, Partek Oyj Abp 1989-2002

Carina Geber-Teir

Senior Vice President, Communications

b. 1972, Finnish, M. Sc. (Pol)

Ownership of shares 30 Sep 2020:
1,150 B shares

Employed by Cargotec 2018–
Member of the Leadership Team 2019–
Member of the Extended Executive Board 2018–2019

Prior work experience:
Chief Communications Officer, Member of the Executive Board, OP Financial Group 2009–2018
Chief Communications Officer, Mutual pension insurance company Varma 2002–2009
Communications Manager, Press Officer, Mutual pension insurance company Varma-Sampo 2001–2002
Press Officer, Ministry of Social Affairs and Health, Finland 1999–2001
Head of International Relations, University of Vaasa 1999

Mikael Laine

Senior Vice President, Strategy

b. 1964, Finnish, M.Sc. (Econ.)

Ownership of shares 30 Sep 2020:
14,687 B shares

Employed by Cargotec 2014–
Member of the Leadership Team 2019–
Member of the Executive Board 2014–2019

Prior work experience:
President & CEO, Moventas Group 2012–2013
SVP, Business Development and Corporate Functions, Moventas Group 2008–2012
CEO, YAP Solutions Oy 2005–2008
CFO, Senior Vice President, deputy CEO, TeliaSonera Corporation /TeliaSonera Finland 2003–2005
Employed by Sonera Oyj holding different positions 1996–2002
CFO, Oy Mikrolog Ltd 1995–1996

Key positions of trust:

Member of the Board, Aspo Plc 2016–

Soili Mäkinen

CIO, Senior Vice President, Digitalisation

b. 1960, M.Sc. (Econ.)

Ownership of shares 20 Sep 2020:
11,672 B shares

Employed by Cargotec 2006–
Member of the Leadership Team 2019–
Member of the Executive Board 2018–2019

Prior work experience:
CIO, Cargotec, 2006–
CIO, MacGregor, 1993–2006

Mikko Pelkonen

Senior Vice President, Human Resources

b. 1970, Finnish, B.A.

Ownership of shares 30 Sep 2020:
42,213 B shares

Employed by Cargotec 2013–
Member of the Leadership Team 2019–
Member of the Executive Board 2013–2019

Prior work experience:
Vice President of Human Resources, Nokia Siemens Networks, Mobile Broadband 2012–2013, Network Systems 2009–2012, Greater China 2006–2009
Head of Human Resources, Nokia Networks, North America 2004–2006
Employed by Nokia, holding different HR positions 1997–2004

 

Member of the Board:
Svenska Handelsbanken AB (publ), Branch Operation in Finland 2020–

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