Board of Directors

Stig Gustavson Chairman				Björn Savén Vice Chairman				Svante Adde
Kim Gran				Matti Kavetvuo				Malin Persson
Timo Poranen				Mikael Silvennoinen

Lennart Simonsen
Secretary to the Board (not member of the Board)

*Board member is deemed to be dependent of the company, independent of significant shareholders of the company


Responsibilities

The Board is vested with powers and duties to manage and supervise the operations of the Company as set forth in the Companies Act, the Articles of Association and any other applicable Finnish laws and regulations. The Company aims to comply with all applicable rules and regulations affecting the Company or its affiliates (the "Group Companies") outside Finland provided that such compliance does not constitute a violation of the laws of Finland.

The Board has a general obligation to pursue the best interest of the Company and is accountable to the shareholders of the Company. The Board members shall act in good faith and with due care, exercising their business judgment on an informed base in what they believe to be the best interest of the Company and its shareholder community as a whole.

The Board shall decide on the business strategy of the Company, appointment and dismissal of the President and CEO, deputy to the President and CEO and other senior management, the group structure, acquisitions and disposals, financial matters and investments. It shall also continuously review and follow-up the operations and performance of the Group Companies, risk management and the compliance by the Company with applicable laws, as well as any other issues determined by the Board. The Board shall on an ongoing basis inform itself on issues and business activities of major strategic importance. The Board shall appoint a secretary to the Board to be present at all meetings.

Meeting practice and self-assessment

In 2007, Konecranes’ Board convened 9 times. In addition to the Board and its secretary, also the Company’s President and CEO, and CFO attend the Board meetings. The average attendance of Board members at meetings was almost 96 percent. Konecranes’ Board shall meet as frequently as necessary to properly discharge its responsibilities. There shall be approximately eight regular meetings per year.

The Board and each of its committees conduct an annual performance evaluation to determine whether the entire Board and each of its committees function effectively. The Board establishes the criteria to be used in these evaluations. The performance review is to be discussed with the entire Board following the end of each fiscal year.

During 2007, the Chairman of the Board conducted personal interviews with each Board member. The Chairman reported his findings to the Board at the Board meeting in which the Board approved the Financial Statements for 2007. The Audit Committee has assessed the effectiveness of its work and has resolved to maintain its current working procedures for 2008.