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Stock Exchange release

Cargotec appoints Mikael Laine as Senior Vice President, Strategy

2/14/2014

CARGOTEC CORPORATION, STOCK EXCHANGE RELEASE, 14 FEBRUARY 2014 AT 2.00 PM (EET) 

Cargotec appoints Mikael Laine as Senior Vice President, Strategy

Mikael Laine has been appointed Senior Vice President, Strategy as of 7 April 2014. He will be a member of the Executive Board and reports to President and CEO Mika Vehviläinen. 

Mikael Laine, M.Sc. Econ, (b. 1964), comes most recently from Moventas Group, one of the world's leading industrial and wind gear manufacturers, where he held the position of President and CEO. Prior to that he was SVP, Business Development and Corporate Functions in Moventas. Laine has led strategic and financial operations in several positions in Sonera Corporation, and he has held senior executive positions in various IT and telecom companies.

"Mikael has a strong industrial background and a long experience in strategic development. He has a wide and versatile financial expertise and his deep understanding from the IT and telecom industry brings us added insight as our industry is moving towards digitalisation. Due to these, among other things, we felt that Mikael is a perfect choice for the task," says Mika Vehviläinen.

"My international working experience and versatile career offer possibilities to introduce new ideas to the development of Cargotec's operations. I look forward to start working in Cargotec," says Mikael Laine.

Mikael Laine's CV and high resolution image are attached.

Further information for the press and investors:
Mika Vehviläinen, President and CEO, tel. +358 20 777 4100
Eeva Sipilä, Executive Vice President and CFO, tel. +358 20 777 4104

Cargotec shapes the cargo handling industry for the benefit of its customers and shareholders. Cargotec's business areas MacGregor, Kalmar and Hiab are recognised leaders in cargo and load handling solutions around the world. Their global network is positioned close to customers and offers extensive services that ensure a continuous, reliable and sustainable performance according to customers' needs. Cargotec's sales totalled approximately EUR 3.2 billion in 2013 and it employs approximately 11,000 people. Cargotec's class B shares are quoted on NASDAQ OMX Helsinki under symbol CGCBV. www.cargotec.com

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