CARGOTEC CORPORATION, STOCK EXCHANGE RELEASE, 5 MARCH 2010 AT 1.25 P.M. (EET)
Cargotec Corporation's Board of Directors elected in the Annual General Meeting has in its organising meeting elected Ilkka Herlin to continue as Chairman of the Board. Tapio Hakakari was elected as Deputy Chairman.
The Board of Directors considers all members to be independent from the Company and all except Ilkka Herlin to be independent of major shareholders.
The Board of Directors elected among its members Ilkka Herlin, Karri Kaitue, Anja Silvennoinen and Teuvo Salminen as members of the Audit Committee. Teuvo Salminen was elected as Chairman of the Audit Committee. The Board considers that the membership of Ilkka Herlin, as a significant shareholder, in the Audit Committee is warranted.
Board members Tapio Hakakari, Ilkka Herlin, Peter Immonen and Antti Lagerroos were elected to the Nomination and Compensation Committee. Ilkka Herlin was re-elected as chairman of the Nomination and Compensation Committee.
Outi Aaltonen, Senior Vice President, General Counsel, was elected as Secretary to the Board of Directors.
For further information, please contact:
Outi Aaltonen, Senior Vice President, General Counsel and Secretary to Board of Directors,
tel. +358 204 55 4249
Eeva Sipilä, CFO, tel. +358 204 55 4281
Minna Karhu, Vice President, Corporate Communications, tel. +358 204 55 4630
Cargotec improves the efficiency of cargo flows on land and at sea - wherever cargo is on the move. Cargotec's daughter brands, Hiab, Kalmar and MacGregor are recognised leaders in cargo and load handling solutions around the world. Cargotec's global network is positioned close to customers and offers extensive services that ensure the continuous, reliable and sustainable performance of equipment. Cargotec's sales totalled EUR 2.6 billion in 2009 and it employs more than 9,500 people. Cargotec's class B shares are quoted on the NASDAQ OMX Helsinki. www.cargotec.com