Cargotec's Board of Directors Organizing Meeting 2020

Source: www.gulfoilandgas.com 5/27/2020, Location: Europe

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. In the overall evaluation, the Board considered the over ten year term of some Board members, but considered them still to be independent of the company.

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 Tapio Hakakari, Ilkka Herlin, Peter Immonen and Teresa Kemppi-Vasama 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.


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