Cargotec Announces New Leadership for Standalone Hiab Division
Cargotec's New Leadership Team for Standalone Hiab
Cargotec has made significant strides in its transition into a standalone entity, casting a spotlight on its Hiab division. With the approval of a dedicated leadership team, Cargotec is poised to continue its journey of innovation and excellence in load-handling solutions.
Transformational Changes Ahead
The Board of Directors of Cargotec has officially approved a new leadership team for the Hiab division, which will take effect on April 1, 2025. This strategic move is conditional upon the successful completion of Cargotec's ongoing transformation project.
Details on Leadership Appointments
The leadership appointments demonstrate Cargotec’s commitment to ensuring a seamless transition. The team will be composed of seasoned professionals who have vast experience in the industry, particularly with Hiab’s operations. Leading the team will be Scott Phillips as the President and CEO, steering the company into its promising future.
Composition of the New Team
The invigorated leadership team includes:
- President and Chief Executive Officer (CEO): Scott Phillips
- Executive Vice President (EVP), CFO: Mikko Puolakka
- President, Loader Cranes, Heavy and Superheavy: Marcel Boxem (interim)
- President, Services: Michaël Bruninx
- President, Demountables and Defence: Hermanni Lyyski
- President, Truck Mounted Forklifts: Barry McGrane
- President, Tail Lifts: Martin Saint
- President, Loader Cranes, Light and Medium: Magdalena Wojtowicz-Tokarz
- Executive VP, Business Excellence and Sustainability: Sanna Ahonen
- Executive VP, HR: Ghita Jansson-Kiuru
- Executive VP, Marketing and Communications: Birgitte Skade
- Executive VP, General Counsel: Taina Tirkkonen
- Executive VP, Business Operations Development: Scott Phillips (interim)
Future Prospects for Hiab
Following the name change to Standalone Hiab, which will occur after the successful sale of the MacGregor business, the company anticipates maintaining its focus on growth and development. This strategic renaming reflects the company’s dedication to enhancing its operations in the load-handling sector.
Commitment to Excellence
Cargotec’s Chair, Ilkka Herlin, expressed his confidence in the new leadership team, stating, "The Leadership Team of Standalone Hiab consists of very experienced and knowledgeable industry leaders, who have extensive backgrounds in Hiab and its operations. The team's excellent previous efforts will be instrumental in driving future successes."
The Path Forward
He further highlighted that the ongoing transformation project, including the separation of Kalmar into a distinct entity and optimizing Hiab for its standalone future, has seen fruitful progress according to the goals set forth by the Board in 2023.
Financial Overview of Hiab Business
Cargotec’s Hiab division is recognized for its innovative and environmentally sustainable road load-handling solutions. In 2023, the Hiab operations recorded an impressive sales figure of approximately EUR 1.8 billion, underscoring the division's robust market presence and commitment to excellence.
The dedicated workforce of over 4,000 employees at Hiab reinforces the company's aim of exceeding customer expectations through collaboration and engagement.
Get In Touch
For additional inquiries, Cargotec invites interested parties to contact:
Mikko Pelkonen, SVP, Human Resources, tel. +358 20 777 4000
Aki Vesikallio, Vice President, Investor Relations, tel. +358 40 729 1670
Frequently Asked Questions
What is the purpose of the new leadership team?
The new leadership team aims to lead the Hiab division effectively as it transitions into a standalone entity, focusing on growth and operational excellence.
Who is the CEO of Standalone Hiab?
Scott Phillips has been appointed as the President and CEO of Standalone Hiab effective April 1, 2025.
What changes are happening with Cargotec?
Cargotec is undergoing a transformation project, which includes selling its MacGregor business and enabling Hiab to operate as a standalone company.
What are the key achievements of Hiab?
Hiab has been committed to providing sustainable load-handling solutions and reported approximately EUR 1.8 billion in sales in 2023.
How can I contact Cargotec for more information?
For more details, you can reach out via phone to the HR and Investor Relations contacts provided in the article.
About The Author
Contact Owen Jenkins privately here. Or send an email with ATTN: Owen Jenkins as the subject to contact@investorshangout.com.
About Investors Hangout
Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/
The content of this article is based on factual, publicly available information and does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice, and the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. This article should not be considered advice to purchase, sell, or hold any securities or other investments. If any of the material provided here is inaccurate, please contact us for corrections.
