Cargotec Corporation's Board of Directors elected by the Annual General Meeting has announced the appointment of Mr. Jaakko Eskola as the new Company Chair. Jaakko Eskola will succeed Mr. Ilkka Herlin who has chosen to step down as the Chair of the Board having served as Chair for 17 years since 2005. The change will take effect immediately.

Ilkka Herlin will continue as a member of the board and as the Vice Chair. Jaakko Eskola joined Cargotec's Board in March 2021 after a distinguished career in Wärtsilä and was elected as vice chair of Cargotec's Board of Directors previously in March 2022. Ilkka Herlin will continue as a member of both the Audit and Risk Committee and Compensation and Nomination committee.

Jaakko Eskola will chair the Compensation and Nomination committee.