Cargotec and Konecranes select new CEO as merger nears completion

Cargotec and Konencranes a step closer to merging with new CEO

The merger between Cargotec and Konecranes has taken another step towards completion with the appointment of Mika Vehviläinen as the President and CEO of the new business.

In a joint statement the two companies said Vehviläinen’s appointment will become effective as soon as the merger is fully finalised, which is due to happen by the end of H1 2022. Until completion, both companies will continue to operate independently.

Vehviläinen says he is “energised and excited” about the potential of the new venture and is looking forward to working with “the extraordinary talent from both companies”. He continued by saying he is hoping “to deliver the very best for our customers and society around us in a truly sustainable way.”

Mika Vehviläinen

“It will be an honour and an inspiring opportunity to lead the Future Company when the first day of operations arrives, and I am thankful to the Boards of both companies for their trust at this historic moment,” Vehviläinen said.

Christoph Vitzthum, the Chairman of the Future Company and the Chairman of Konecranes, “Today’s announcement is a defining moment for the Future Company and the industry as a whole, and it marks the culmination of a rigorous selection process involving the boards of both Cargotec and Konecranes.

“The Future Company has an ambition to become a global leader in sustainable material flow, and both Boards are confident that Mika Vehviläinen, with his robust leadership and industry experience and proven track record of creating value at Cargotec and other companies, is exactly the right person for the position.”

Ilkka Herlin, the Chairman of Cargotec: “Speaking on behalf of Cargotec’s Board, we are delighted that we will continue to benefit from Mr. Vehviläinen’s experience and strong leadership.

“Our customers are increasingly seeking green solutions and this will be a major business driver and value creation opportunity for the Future Company.

“Mr Vehviläinen has done an outstanding job and played an integral role over the past years transforming Cargotec’s business and the whole industry towards a more sustainable one.

“I’m pleased that Mr. Vehviläinen will lead the Future Company and ensure a seamless transition to the next phase of our sustainable growth journey together with Konecranes.”

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