Pekka Lundmark News

Juha Pankakoski (47) has been appointed Chief Digital Officer of Konecranes Plc. He will be responsible for all Information Systems and the overall Process Architecture of Konecranes. He will also assume a wider responsibility for the company’s digitalization strategy. Mr. Pankakoski will be a member of the Konecranes Group Executive Board and will report to Pekka Lundmark, President & CEO. Mr. Pankakoski will start in his new position on January 1, 2015. Juha Pankakoski has worked at Konecranes since 2004 and is currently holding a position of Vice President, Head of Business Unit Parts. He has previously held several management positions in operations and business development at Konecranes. Juha Pankakoski has a M.Sc.(Eng) degree and an eMBA.

Ryan Flynn is returning to Konecranes Plc and he has been appointed Executive Vice President and Head of Business Area Equipment. Flynn will be a member of the Konecranes Group Executive Board and will report to Pekka Lundmark, President & CEO. Flynn will start in his new position on June 1, 2014. Ryan Flynn has held the position of Vice President, Strategy & Business Development at BlueScope Steel, Global Building Solutions since 2013. In 2005-2013, Flynn worked at Konecranes Plc as the Senior Vice President…

As preliminarily communicated in the stock exchange release on June 19, 2013, Konecranes’ profitability development has been unsatisfactory amid the current challenging business environment, the company said in a news release. In addition, the economic environment remains uncertain, and Konecranes said it will prepare accordingly. The company is planning new measures to reduce annual cost base by EUR 30 million by the end of 2014 of which roughly two-thirds relates to the Business Area Equipment and one-third to the Business Area Service. Furthermore, Konecranes is planning new actions to reach savings in variable costs. The total cash-based restructuring costs are estimated at maximum EUR 20 million for the years 2013 to 2014.

Konecranes PLC issues its Q4 and full year 2012 financial statement and bulletin. I am pleased with many aspects of our performance in 2012. In a marketplace where uncertainty and customers' hesitation to make decisions has become the new norm, a 14 percent growth in sales to a new record level of EUR 2,170 million was a good achievement. Operating profit before restructuring costs rose by 18 percent to EUR 138 million and earnings per share 32 percent to EUR 1.46. Cash flow was strong, reducing our gearing to below 40 percent. All in all, 2012 was a good year, but we aim higher. A year ago, we decided that our service business should prioritize profitability over growth in the short term.

KCI Konecranes' Board of Directors appointed Pekka Lundmark as President and CEO of KCI Konecranes. Stig Gustavson has been appointed Chairman of the Board of Directors and Björn Saven, KCI Konecranes' Chairman since 1994, has been appointed vice Chairman of the Board. "KCI Konecranes' strategic direction will not change," Lundmark says. Lundmark was born in 1963 and has a Master of Engineering degree from Helsinki University of Technology. Having held various management positions within Nokia he was CEO of Hackman Group between 2002-2004. Mr. Lundmark joined KCI Konecranes in August 2004 as Group Executive Vice President. As Chairman of the Board, Stig Gustavson will continue to play an important part in KCI Konecranes. He also remains a substantial long-term shareholder.

Teo Ottola (MSc) has been appointed Chief Financial Officer (CFO) at Konecranes Plc. His areas of responsibility will be business control, accounting, financing and investor relations. The present CFO, Teuvo Rintamäki, announced his resignation in February 2007, but he will continue as CFO until Mr Ottola has settled in to his new position. Mr Ottola will be a member of the Konecranes Group Executive Board and will report to Pekka Lundmark, President & CEO. Mr Ottola will start in his new position on August 20 2007.