Cargotec CEO Mika Vehviläinen to retire in 202310 January 2023
Cargotec CEO Mika Vehviläinen has informed Cargotec’s board of directors of his intention to retire from Cargotec during 2023, in accordance with the terms of his CEO service contract. The board has initiated a search for a successor.
Cargotec subsidiaries include Kalmar – port straddle carriers and shuttle carriers are among its products – Hiab (which makes loader cranes and forestry cranes, for example) and MacGregor (which includes port cranes among the products it manufactures).
Vehviläinen was appointed as Cargotec CEO in 2013.
“It has been both a privilege and a pleasure to lead the transformation of Cargotec together with so many committed and talented colleagues,” said Vehviläinen. After ten years as CEO of the company, I believe this is the right time for a new CEO to lead the financially and operationally strong Cargotec into its next phase of growth. Executing on our refocused strategy remains our top priority, and in the months ahead I will remain fully focused on driving our performance to leverage the full benefits of our strategy.”
Jaakko Eskola, chair of the board of directors, added: “Mika’s retirement… will mark the end of a remarkable career with Cargotec. Under his leadership, Cargotec has made critical changes to its strategy, structure and performance that position it strongly for success. The work to develop the company to its full potential continues, and we will thank Mika warmly for his leadership and contribution to our business when he leaves.