Change in the Board of Directors – Jaakko Eskola new Chair of the Board

CARGOTEC CORPORATION, STOCK EXCHANGE RELEASE, 27 APRIL 2022 AT 1.40 PM EEST

Change in the Board of Directors –  Jaakko Eskola new Chair of the Board

Cargotec Corporation’s Board of Directors elected by the Annual General Meeting has announced the appointment of Mr. Jaakko Eskola as the new Company Chair. Jaakko Eskola will succeed Mr. Ilkka Herlin who has chosen to step down as the Chair of the Board having served as Chair for 17 years since 2005. The change will take effect immediately. Ilkka Herlin will continue as a member of the board and as the Vice Chair.

Jaakko Eskola joined Cargotec’s Board in March 2021 after a distinguished career in Wärtsilä and was elected as vice chair of Cargotec’s Board of Directors previously in March 2022.

“It has been a privilege to be chair of this unique company. As we move into a new phase of the company I’m pleased to welcome Jaakko as my successor. I have strong confidence in Cargotec’s next wave of growth. Jaakko brings a wealth of industry and leadership experience across a wide range of companies that ideally equip him to help Cargotec navigate the transition into a more sustainable and profitable business that continues to generate substantial value for shareholders and customers,” says Ilkka Herlin.

“I’m very humbled and excited to accept the role as Chair of Cargotec, particularly at such an exceptional time for the industry and wider society. I’m honoured to succeed Ilkka and I look forward to working closely with the leadership to continue to ensure that Cargotec makes a positive impact for all stakeholders. I have already participated in the shaping of the refocused strategy that Cargotec has recently communicated and I’m convinced this is the right time to accelerate the transition to an even more profitable and futureproof business,” says Jaakko Eskola. 

Ilkka Herlin will continue as a member of both the Audit and Risk Committee and Compensation and Nomination committee. Jaakko Eskola will chair the Compensation and Nomination committee.

As of today, Cargotec's Board of Directors consists of:
Jaakko Eskola, Chair
Ilkka Herlin, Vice Chair
Teresa Kemppi-Vasama
Johanna Lamminen
Casimir Lindholm
Kaisa Olkkonen
Teuvo Salminen
Heikki Soljama

Cargotec Corporation
Board of Directors

For further information, please contact:
Carina Geber-Teir, SVP Communications, tel. +358 40 5024 697

Cargotec (Nasdaq Helsinki: CGCBV) enables smarter cargo flow for a better everyday with its leading cargo handling solutions and services. Cargotec's business areas Kalmar, Hiab and MacGregor are pioneers in their fields. Through their unique position in ports, at sea and on roads, they optimise global cargo flows and create sustainable customer value. Cargotec has signed United Nations Global Compact Business Ambition for 1.5°C. The company's sales in 2021 totalled approximately EUR 3.3 billion and it employs around 11,000 people. www.cargotec.com