Konecranes is simplifying its structure as from January 1, 2013 to further improve result accountability, clarity, speed, and cost efficiency. This will also change the composition of the Group Executive Board.

The main changes are as follows:

-The current Market Operations and Business Area Service organizations will be consolidated under a single executive in the Group Executive Board (GXB), thus eliminating the current matrix structure in Business Area Service and allowing it to be managed as a straightforward line organization. Business Area Equipment will continue to operate as a matrix organization within the Konecranes Regions.

To head up this new organization, Fabio Fiorino has been appointed Executive Vice President, Business Area Service & Chief Customer Officer. Mr. Fiorino is currently holding a position of Executive Vice President, Business Area Service.

-A new function, Strategy and Technology, is being created in the Group Executive Board. To head up this function, Mikko Uhari has been appointed Executive Vice President, Strategy and Technology. Mr. Uhari is currently holding a position of Executive Vice President, Market Operations.

-The heads of the Human Resources and Information Systems functions will become members of the Group Executive Board and report directly to the President & CEO.

Jaana Rinne, VP Human Resources, has given notice that she will be pursuing opportunities outside of Konecranes. The recruitment process for the new head of HR has started, and once the new person has been appointed he/she will report directly to the President & CEO. During her period of notice, Jaana Rinne will continue to report to CFO Teo Ottola. Antti Koskelin, Chief Information Officer, will report directly to the President & CEO as of January 1, 2013.

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 2011, Group sales totaled EUR 1,896 million. The Group has 12,100 employees at 609 locations in 47 countries.