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Home News Cargotec and Konecranes elect first CEO of their merger

Cargotec and Konecranes elect first CEO of their merger

Cargotec Corporation and Konecranes have selected Mika Vehviläinen as the first President and Chief Executive Officer (CEO) of the future company as from completion of the merger between the two firms.

On 1 October 2020, the Finnish companies announced their agreement to combine themselves through a merger aiming to create a European powerhouse in the freight handling sector.

The appointment of the new CEO will become effective upon completion of the transaction which is anticipated to take place by the end of the second half of 2022. Until then, both companies will operate fully separately and independently.

"I am energised and excited about the potential of the Future Company, and the chance to work together with the extraordinary talent from both companies to deliver the very best for our customers and society around us in a truly sustainable way," commented Mika Vehviläinen, who went on to add, "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."

Mika Vehviläinen has served as Cargotec’s CEO since 2013 while he is also a member of the Board of Directors of Danfoss A/S. Prior to joining Cargotec, Vehviläinen acted as President and CEO of Finnair Plc, as Chief Operating Officer (COO) for Nokia Siemens Networks and in other various positions with Nokia.

Furthermore, Vehviläinen has acted as Vice Chairman of the Board of Directors of Elisa Corporation and of Vacon Plc, while he holds a Master of Science degree in Economics.

The Chairman of Cargotec, Ilkka Herlin pointed out that "our customers are increasingly seeking green solutions and this will be a major business driver and value creation opportunity for the Future Company. 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."

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