KONECRANES PLC STOCK EXCHANGE RELEASE October 1, 2024 at 8:30 EEST
Changes in Konecranes Leadership Team and operating model
Konecranes is adjusting its operating model to support its strategy deployment and growth ambitions. As of January 1, 2025, the company will have three Business Areas: Industrial Service, Industrial Equipment and Port Solutions, instead of the current two, Industrial Service and Equipment, and Port Solutions.
The new operational model aims at enhancing growth, accelerating efficiency and continued profitability improvement. The change will not impact Konecranes’ financial reporting, as the three Business Areas currently are separate reporting segments.
Konecranes combined Industrial Service and Equipment into one Business Area under same leadership in 2022. Since then, the company’s industrial business model has been simplified and harmonized.
“For over two years, we have successfully managed the Industrial Service and Equipment Business Area as one unified entity. This has allowed us to effectively simplify our Industrial go-to-market model and harmonize our product offering, and we feel that we have largely reached the benefits we were seeking when combining the businesses. As we expect our business to grow, we want to ensure that we have the right operating model in place to support our growth ambitions especially in Industrial Service. Despite the change, our common frontlines and customer focus will remain steadfast. I am confident that this change will accelerate our decision-making and position us better to achieve our long-term ambitions,” says Anders Svensson, President and CEO of Konecranes.
New Leadership appointments
Tomas Myntti, currently Senior Vice President, Industrial Service and Equipment, Region EMEA, is appointed as Business Area President, Port Solutions and a member of the Konecranes Leadership Team as of October 14, 2024. He will replace Juha Pankakoski, EVP, Business Area Port Solutions, who will leave Konecranes, as announced earlier.
Tomas Myntti (b. 1963) joined Konecranes in 2008 and has held since then various leadership positions both in service and equipment businesses. In his new role, Tomas Myntti will focus on strengthening collaboration, driving profitable project execution, enhancing port service growth, and developing Konecranes’ Port Solutions business overall.
Fabio Fiorino, currently Executive Vice President, Industrial Service and Equipment, is appointed as Business Area President, Industrial Service, as of January 1, 2025. He continues as a member of the Konecranes Leadership Team. Before his current role, Fabio Fiorino led Konecranes’ Industrial Service business.
Marko Tulokas, currently Senior Vice President, Business Unit Standard Equipment, is appointed as Business Area President, Industrial Equipment, and a member of the Konecranes Leadership Team as of January 1, 2025. In his new role, he will focus on spearheading the Industrial Equipment business, further accelerating operational efficiency and sustaining the good collaboration between Industrial Service and Industrial Equipment businesses.
Marko Tulokas (b. 1972) joined Konecranes in 2004 and has held since then various leadership positions mainly in the equipment business, but also in service. He has most recently led go-to-market model simplification and product portfolio harmonization, while heading the Business Unit Standard Equipment.
“These strategic appointments reflect our commitment to shape the next generation of material handling for a smarter, safer and better world. After successfully heading the Industrial Service and Equipment business for 2.5 years, Fabio Fiorino can now fully focus on delivering Service growth. Tomas Myntti and Marko Tulokas are both valued leaders with extensive industry, profit and loss management and commercial experience. I wish Tomas, Marko and Fabio great success in their new roles,” continues Anders Svensson.
The CVs and photos of Tomas Myntti and Marko Tulokas are attached to this release.
From January 1, 2025, the Konecranes Leadership Team will consist of the following members:
Anders Svensson, President and CEO
Teo Ottola, CFO, Deputy CEO
Fabio Fiorino, Business Area President, Industrial Service
Tomas Myntti, Business Area President, Port Solutions
Marko Tulokas Business Area President, Industrial Equipment
Minna Aila, EVP, Corporate Affairs & Brand
Claes Erixon, EVP, Technologies
Christine George, EVP, Strategy & Business Development
Anneli Karkovirta, EVP, People & Culture
Sirpa Poitsalo, EVP, General Counsel
KONECRANES PLC
Anders Svensson
President and CEO
FURTHER INFORMATION
Kiira Fröberg
Vice President, Investor Relations
tel. +358 (0)20 427 2050
Konecranes is a global leader in material handling solutions, serving a broad range of customers across multiple industries. We consistently set the industry benchmark, from everyday improvements to the breakthroughs at moments that matter most, because we know we can always find a safer, more productive and sustainable way. That's why, with around 16,600 professionals in over 50 countries, Konecranes is trusted every day to lift, handle and move what the world needs. In 2023, Group sales totalled EUR 4.0 billion. Konecranes shares are listed on Nasdaq Helsinki (symbol: KCR).
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Nasdaq Helsinki
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www.konecranes.com
