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Change in Cargotec Corporation’s Board of Directors – Jaakko Eskola new Chair of the Board

Change in Cargotec Corporation’s 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.

www.cargotec.com

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