Cargotec Appoints Sami Niiranen as President of Kalmar and Potential CEO in Planned Separation and Listing Readiness

Cargotec Appoints Sami Niiranen as President of Kalmar and Potential CEO in Planned Separation and Listing Readiness

(IN BRIEF) In a significant leadership change at Cargotec, Sami Niiranen has been appointed as the new President of Kalmar, effective by May 2024 at the latest. During this transition, Casimir Lindholm, Cargotec’s current President and CEO, will serve as interim Kalmar President. Sami Niiranen, with over two decades of international business leadership experience, previously in roles at Epiroc and Atlas Copco, will also join Cargotec’s Leadership team. Furthermore, in line with Cargotec’s planned partial demerger of Kalmar, if pursued, Niiranen will be proposed as the President and CEO of the proposed standalone Kalmar. To facilitate listing readiness and corporate governance preparations for the potential standalone Kalmar, a Demerger Committee has been established, with Jaakko Eskola as its Chair. The partial demerger is scheduled to continue throughout 2023, with a potential separate listing on Nasdaq Helsinki in 2024. Eskola expressed confidence in Niiranen’s leadership, emphasizing his track record of operational performance improvement and growth.

(PRESS RELEASE) HELSINKI, 10-Nov-2023 — /EuropaWire/ — Cargotec’s Board of Directors has appointed Sami Niiranen (M.Sc. Mining), b. 1972, as Cargotec’s new President of Kalmar as of May 2024 at the latest, until which Cargotec’s current President and CEO Casimir Lindholm will hold his interim position as Kalmar President. Sami Niiranen will also become a member of the Cargotec Leadership team.

As part of the planned separation of Kalmar by partial demerger, announced on April, 27 2023, if the demerger is pursued, Sami Niiranen shall also be proposed as the President and CEO of the proposed standalone Kalmar.

Sami Niiranen has over 20 years of experience in international business leadership. Most recently in Epiroc leading the Underground division. Prior to that, for more than 10 years, he has held several leadership positions in Atlas Copco.

To support the listing readiness preparations, the Board decided in August to establish a new Demerger Committee to oversee the preparations for listing readiness and corporate governance matters for the potential standalone Kalmar. The Board has now decided that Jaakko Eskola will act as the Chair of The Demerger Committee. The Demerger Committee will consist of Jaakko Eskola, Teresa Kemppi-Vasama and Tapio Kolunsarka going forward. Planning of the partial demerger will continue throughout 2023 and the potential separate listing of Kalmar on Nasdaq Helsinki would, if carried out, take place in 2024.

“I’m excited to be leading Kalmar through the planned standalone listing. Kalmar is a technology forerunner in its field and performs well with a talented team and a strong portfolio of businesses. I believe that the business is in an excellent position to create further value for all of its stakeholders and I look forward to contributing with my experience to drive profitability, operational excellence, innovation and growth within the industry,” says Sami Niiranen.

“Sami Niiranen is an experienced industry leader with a proven track record of improving operational performance and driving growth in a variety of competitive global business landscapes. We are confident that under Mr. Niiranen’s leadership Kalmar will continue to grow and maintain the commitment to profitability and sustainability,” says Jaakko Eskola, Chair of the Cargotec Board of Directors.

The CV of Sami Niiranen is attached to the release and the CV of Jaakko Eskola is available at Cargotec’s website.

Cargotec Corporation
Board of Directors

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 the United Nations Global Compact Business Ambition for 1.5°C. The company’s sales in 2022 totalled approximately EUR 4.1 billion and it employs around 11,800 people. www.cargotec.com

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SOURCE: CARGOTEC CORPORATION