Cargotec CEO Mika Vehviläinen has informed Cargotec's board of directors of his intention to retire from Cargotec during 2023, in accordance with the terms of his CEO service contract. The board has initiated a search for a successor. "It has been both a privilege and a pleasure to lead the transformation of Cargotec together with so many committed and talented colleagues. After 10 years as CEO of the company, I believe this is the right time for a new CEO to lead the financially and operationally strong Cargotec into its next phase of growth. Executing on our refocused strategy remains our top priority, and in the months ahead I will remain fully focused on driving our performance to leverage the full benefits of our strategy," said Vehviläinen. "Mika's retirement next year will mark the end of a remarkable career with Cargotec. Under his leadership, Cargotec has made critical changes to its strategy, structure and performance that position it strongly for success.