Konecranes Oyj - Changes board/management/auditors

KONECRANES PLC BOARD OF DIRECTORS’ ORGANIZING MEETING

KONECRANES PLC  STOCK EXCHANGE RELEASE  March 23, 2016 at 17.30

In the first meeting of the Board of Directors of Konecranes after the Annual
General Meeting Mr. Stig Gustavson informed the Board that he would not be
available to continue as the Chairman of the Board due to his age, but that he
would like to continue to serve the company. The Board of Directors elected Mr.
Christoph Vitzthum Chairman of the Board and Mr. Stig Gustavson Vice Chairman
of the Board. 

“I’m taking up the position of the Chairman of the Board with great respect.
The company is in a very interesting and demanding development phase,” says the
Chairman of the Board Christoph Vitzthum. “I’m delighted that Stig Gustavson
has promised to support me in my tasks and particularly in matters related to
the merger,” he continues. 

Mr. Svante Adde was elected Chairman of the Audit Committee, and Mr. Ole
Johansson and Ms. Malin Persson as Committee members. Mr. Bertel Langenskiöld
was elected Chairman of the Nomination and Compensation Committee, and Mr. Stig
Gustavson and Mr. Christoph Vitzthum as Committee members. 

Of the Board members Stig Gustavson is deemed to be dependent of the company
based on the Board’s overall evaluation relating to his former and current
positions in Konecranes combined with his substantial voting rights in the
company. He is independent of any significant shareholders. Of the Board
members Ole Johansson is deemed to be dependent of significant shareholders of
the company based on his current position as Chairman of the Board of Directors
of Hartwall Capital Oy Ab. Bertel Langenskiöld is deemed to be dependent of
significant shareholders of the company based on his previous position as the
Managing Director of Hartwall Capital Oy Ab. 

While both Svante Adde and Malin Persson have served as directors of the
company for more than ten consecutive years, they are deemed to be independent
of the company since their independence is not compromised by this or any other
factor according to the Board's overall evaluation. Christoph Vitzthum, who has
served as a director of the company for one year, is independent of both the
company and significant shareholders. 

KONECRANES PLC

Miikka Kinnunen
Director, Investor Relations



FURTHER INFORMATION
Mr. Miikka Kinnunen, Director, Investor Relations, tel. +358 20 427 2050



Konecranes is a world-leading group of Lifting Businesses™, serving a broad
range of customers, including manufacturing and process industries, shipyards,
ports and terminals. Konecranes provides productivity-enhancing lifting
solutions as well as services for lifting equipment and machine tools of all
makes. In 2015, Group sales totaled EUR 2,126 million. The Group has 11,900
employees at 600 locations in 48 countries. Konecranes is listed on the Nasdaq
Helsinki (symbol: KCR1V). 



DISTRIBUTION
Nasdaq Helsinki
Media
www.konecranes.com