Changes in Konecranes Leadership

In October 2021, Konecranes started an assessment of a closer collaboration between its Service and Industrial Equipment Business Areas (Industrial Assessment). The objective of the assessment was to enhance customer experience of Konecranes industrial customers as well as to drive operational efficiency. Meanwhile, the Board of Directors has started the search for a new president and CEO.

As a result of the Industrial Assessment, Konecranes has now decided to focus the two Business Areas, Service and Industrial Equipment, under one leadership to strengthen Konecranes’ role as the global lifting leader. Starting from June 1, 2022, Fabio Fiorino, currently EVP, Business Area Service, will be leading both Business Areas Industrial Service and Industrial Equipment.

The planned operating model of the two Industrial Business Areas will be developed further. Despite the leadership change, Industrial Service and Industrial Equipment will continue as separate financial reporting segments. Carolin Paulus, currently EVP, Business Area Industrial Equipment has decided to pursue her career outside Konecranes. She will leave Konecranes on May 31, 2022.

“Bringing Industrial Service and Industrial Equipment closer to one another will improve Konecranes’ customer experience and will simplify our industrial business model and strategy. Fabio has done excellent job in leading our Business Area Service for years. At the same time, I want to warmly thank Carolin Paulus for leading the Industrial Equipment for the past two years. I wish her all the best,” says Teo Ottola, Interim CEO and CFO of Konecranes.

“Our Industrial Service and Industrial Equipment businesses will continue to focus on providing industry-leading Lifecycle Services and Sustainable Lifting Solutions across a wide range of industries. I am excited and look forward to the closer collaboration between the two businesses and combining the best of both worlds for the benefit of our customers,” says Fabio Fiorino, future EVP, Industrial Service and Equipment.

The board of directors has started the search for a new president and CEO.

From June 1, 2022, the Konecranes Leadership Team will consist of the following members:

• Teo Ottola, Interim CEO, CFO
• Fabio Fiorino, Executive Vice President, Industrial Service and Equipment
• Mika Mahlberg, Executive Vice President, Business Area Port Solutions
• Juha Pankakoski, Executive Vice President, Technologies
• Anneli Karkovirta, Senior Vice President, Human Resources
• Sirpa Poitsalo, Senior Vice President, General Counsel
• Topi Tiitola, Senior Vice President, Integration and Project Management Office

As announced earlier, the Konecranes Board of Directors has started the search for a new President and CEO.