Change of Chief Financial Officer in Konecranes

The Konecranes Group's CFO Teuvo Rintamäki has informed that he will leave his position. Mr. Rintamäki has been a member of the Group management team since it was formed after an MBO-transaction in 1994. Prior to this, he held various positions as of 1981 within KONE Corporation, and in 1988-1994 he was the Financial Director of KONE's crane division.

I have worked in the crane industry for the past 26 years. Konecranes is currently in very good shape and its future prospects are excellent. However, both personally and for the sake of renewal in the Group, I feel that the time has come for a CFO change at Konecranes. For the moment I have no plans to seek full time employment, says Mr. Rintamäki.

I understand and respect Mr. Rintamäki's decision, although I would have preferred to see him continue his successful career within the crane industry for many years to come. I warmly thank Mr. Rintamäki for his excellent contribution to the development of this Group, says Konecranes President and CEO Pekka Lundmark.

The search for a new CFO will start immediately and both internal and external candidates will be considered. Mr. Rintamäki has confirmed that he will continue as CFO until his successor has been appointed and introduced to the position.

Further information can be obtained from
Pekka Lundmark, president and CEO, tel. +358-20 427 2000
Teuvo Rintamäki, Chief Financial Officer, tel. +358-20 427 2040

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 and services for lifting equipment of every make. In 2006, Group sales totalled EUR 1483 million. The Group has 7,500 employees, at more than 370 locations in 41 countries. Konecranes is listed on the OMX Helsinki Stock Exchange (symbol: KCI1V).

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