Cargotec Corporation: Cargotec's Board of Directors organising meeting 2019

CARGOTEC CORPORATION, STOCK EXCHANGE RELEASE, 19 MARCH 2019 AT 4.10 PM (EET)

Cargotec's Board of Directors organising meeting 2019

Cargotec Corporation's Board of Directors elected by the Annual General Meeting has in its organising meeting elected Ilkka Herlin to continue as Chairman of the Board. Tapio Hakakari was elected to continue as Vice Chairman.

The Board of Directors considers all members to be independent of the company and all except Ilkka Herlin and Peter Immonen to be independent of major shareholders.

The Board of Directors decided to continue the practice that the members are to keep the Cargotec shares they have obtained in remuneration under their ownership for at least two years from the day they obtained them.

The Board of Directors elected among its members Ilkka Herlin, Kaisa Olkkonen and Teuvo Salminen as members of the Audit and Risk Management Committee. Teuvo Salminen was re-elected as Chairman of the committee.

Board members Jorma Eloranta, Tapio Hakakari, Ilkka Herlin and Peter Immonen were elected to the Nomination and Compensation Committee. Ilkka Herlin was re-elected as Chairman of the committee.

Outi Aaltonen, Senior Vice President, General Counsel, will continue as Secretary to the Board.

For further information, please contact:

Mikko Puolakka, Executive Vice President and CFO, tel. [phone]

Outi Aaltonen, Senior Vice President, General Counsel, tel. [phone]

Cargotec (Nasdaq Helsinki: CGCBV) enables smarter cargo flow for a better everyday with its leading cargo handling solutions and services. Cargotec's business areas Kalmar, Hiab and MacGregor are pioneers in their fields. Through their unique position in ports, at sea and on roads, they optimise global cargo flows and create sustainable customer value. Cargotec's sales in 2018 totalled approximately EUR 3.3 billion and it employs around 12,000 people. www.cargotec.com

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Source: Cargotec Corporation via Globenewswire