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Hiab Stock Exchange release

Cargotec appoints Roland Sundén to head Hiab business area as of 1 May 2014

4/16/2014

CARGOTEC CORPORATION, STOCK EXCHANGE RELEASE, 16 APRIL 2014 AT 9.45 AM (EEST)
 
Cargotec appoints Roland Sundén to head Hiab business area as of 1 May 2014 
 
Roland Sundén, M.Sc. (Mech. Eng.), (b. 1953) has been appointed President of the Hiab business area as of 1 May 2014. He will be a member of Cargotec's Executive Board and reports to President and CEO Mika Vehviläinen.
 
Roland Sundén has a versatile and vast experience in global leadership positions in the mechanical engineering industry. Over three decades he has successfully led several business transformation efforts while working as President of Case New Holland's agricultural division, CEO of private equity-owned LM Wind Power and in various executive roles at Volvo. 
 
"Last year Hiab sharpened its strategy implementation tactics, and Hiab's improvement initiatives for this year carry tremendous potential. We needed a person that has the experience and skills to lead these initiatives decisively and who secures Hiab as the leading player in the load handling business. Roland answers the description perfectly," says Cargotec's President and CEO Mika Vehviläinen.
 
"Hiab is a leading provider of on-road load handling equipment and services with high potential. My task together with the Hiab team is to turn that potential into profitability. I am very excited to leverage my experience from similar situations and join the team of great professionals," says Roland Sundén.
 
"Welcoming Roland to Cargotec Executive Board marks the completion of Cargotec's top management. The present group of world-class professionals in this team will lead this company forward during the coming years, realising the ambitious targets set for us by our Board of Directors," says Mika Vehviläinen.
 
Roland Sundén'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
Merike Koskinen, Communications Manager, tel. +358 20 777 4069
 
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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