Kalmar has new president as demerger approaches
Kalmar, part of Cargotec has got a new President and a potential CEO should the company be listed separately as a standalone company. Cargotec’s board of directors has appointed Sami Niiranen as President of Kalmar, starting May 2024 at the latest. Until then, Cargotec’s current President and CEO Casimir Lindholm will hold his interim position as Kalmar President.
Since the merger between Cargotec and Konecranes was called off early last year, when the UK Competition & Markets Authority (CMA) blocked it, Cargote has been looking for a solution and has unveiled plans for a partial demerger earlier this year. Cargotec has decided to exit Kalmar’s heavy cranes business and started evaluating strategic options for MacGregor.
As part of the planned separation of Kalmar by partial demerger, Sami Niiranen shall also be proposed as the President and CEO of the proposed standalone Kalmar.
Sami Niiranen has over 20 years of experience in international business leadership. Most recently in Epiroc leading the Underground division. Prior to that, for more than 10 years, he has held several leadership positions in Atlas Copco.
To support the listing readiness preparations, the Board decided in August to establish a new Demerger Committee to oversee the preparations for listing readiness and corporate governance matters for the potential standalone Kalmar. The Board has now decided that Jaakko Eskola will act as the Chair of The Demerger Committee. The Demerger Committee will consist of Jaakko Eskola, Teresa Kemppi-Vasama and Tapio Kolunsarka going forward. Planning of the partial demerger will continue throughout 2023 and the potential separate listing of Kalmar on Nasdaq Helsinki would, if carried out, take place in 2024.
“I’m excited to be leading Kalmar through the planned standalone listing. Kalmar is a technology forerunner in its field and performs well with a talented team and a strong portfolio of businesses. I believe that the business is in an excellent position to create further value for all of its stakeholders and I look forward to contributing with my experience to drive profitability, operational excellence, innovation and growth within the industry,” says Sami Niiranen.
“Sami Niiranen is an experienced industry leader with a proven track record of improving operational performance and driving growth in a variety of competitive global business landscapes. We are confident that under Mr. Niiranen’s leadership Kalmar will continue to grow and maintain the commitment to profitability and sustainability,” says Jaakko Eskola, Chair of the Cargotec Board of Directors.