INSIDE INFORMATION: Hiab plans to evolve operating model to drive scalability and customer focus and provides update on programme targeting lower cost level

HIAB CORPORATION, INSIDE INFORMATION, 20 JANUARY 2026 AT 10.00 AM (EET)

INSIDE INFORMATION: Hiab plans to evolve operating model to drive scalability and customer focus and provides update on programme targeting lower cost level

Hiab is planning to evolve its operating model as a crucial step to drive long-term scalability and customer focus. The company would realign its structure of six divisions into three business areas. The planned change would strengthen Hiab’s position as the technological leader in on-road load handling and ensure resilience of the company. 

The proposed new structure is planned to be effective during the second quarter of 2026, at which point the strategic realignment into three business areas would be fully operational subject to work council negotiations in relevant jurisdictions. In addition to three business areas, Hiab would continue to have five functions with leaders reporting to President and CEO, Scott Phillips. 

Changes in Hiab Leadership Team:

Due to the plans, as of 1 April 2026, Hiab Leadership Team will consist of: 

• Scott Phillips, President and CEO, 
• Mikko Puolakka, Executive Vice President, CFO
• Michaël Bruninx,  President, Services
• Hermanni Lyyski, President, Delivery Solutions 
• Magdalena Wojtowicz-Tokarz, President, Lifting Solutions
• Kimberly Allan, Executive Vice President, Business Excellence
• Ghita Jansson-Kiuru, Executive Vice President, People & Culture
• Birgitte Skade, Executive Vice President, Marketing & Communications
• Taina Tirkkonen, Executive Vice President, General Counsel

The current Hiab Leadership Team will continue to lead the organization through the transition period. Barry McGrane, Jenny McGeough, and Martin Saint will be proposed to continue in their roles as Division Presidents, reporting into the three planned new business areas.

The new operating model would not impact Hiab’s external reporting. The company would continue to have two reporting segments, Equipment and Services.

“We are shaping Hiab for its next phase of growth. To succeed in a world that is evolving faster than ever, we need an operating model that is simpler, more scalable, and designed to grow with us. This evolution is about creating clarity, speed, and ownership—so we can focus our energy where it matters most: our customers, creating the innovations that matter most for our customers, and our people that make it all possible. I would like to thank Barry, Jenny and Martin for their contribution to the Leadership Team in the past years, as they are proposed to continue in their roles as Division Presidents, “ says Scott Phillips, Hiab’s President and CEO.

Update on programme targeting lower cost level



In connection with the third quarter 2025 interim report, Hiab announced the initiation of planning of a programme targeting to reach approximately EUR 20 million lower cost levels in 2026 compared to 2025. With the programme, Hiab aims to proactively adjust to continued uncertainty in the market environment. Initial estimates indicate that subject to works council negotiations in relevant jurisdictions, the planned measures could result in the reduction of approximately 480 roles globally, of which approximately 60 is expected to impact on operations in Finland. The detailed consequences of these planned changes will be communicated and, where necessary, negotiated locally as the plans progress. Costs related to the programme would be booked as items affecting comparability mainly in 2026. 

For further information, please contact:

Birgitte Skade, Executive Vice President, Marketing and Communications

Email:

tel. 0

Further information for investors:

Aki Vesikallio, Vice President, Investor Relations,

tel. 0

Hiab (Nasdaq Helsinki: HIAB) is a leading provider of smart and sustainable on road load-handling solutions, committed to delivering the best customer experience every day with the most engaged people and partners. Globally, Hiab is represented on every continent through its extensive network of 3,000 own and partner sales and service locations, enabling delivery to over 100 countries. The company's continuing operations sales in 2024 totalled approximately EUR 1.6 billion and it employs over 4,000 people.