Cramo's CFO Aku Rumpunen and SVP Mika Kouhi to leave the company

Cramo Plc        Stock Exchange Release    19 March 2020 at 9.00 am (EET)

Cramo's CFO Aku Rumpunen and SVP Mika Kouhi to leave the company

Mr Aku Rumpunen, CFO of Cramo Group and Mr Mika Kouhi, SVP M&A and Corporate Development Cramo Group have both announced that they will be stepping down from their respective roles.

Mr Aku Rumpunen has been the CFO of Cramo Group since 2016 and has been a part of the Group Management Team since his previous position as SVP, Group Business Control in 2013. He leaves the company at his own request but will stay until the beginning of August to secure the financial integration with Boels Rental and facilitate the delisting of Cramo shares from Nasdaq Helsinki.

‘’I would like to thank Aku for his many contributions to developing and strengthening Cramo into a pure equipment rental company. He has been a strong financial leader through several complex transactions such as the partial demerger which was completed last year. He has been a valuable member to our Group Management team who has not only helped strengthen and develop our financial foundation and processes, but has also been integral to the significant growth and performance that Cramo has achieved over the past years. I would like to extend my thanks to Aku for all he has achieved for Cramo and wish him all the best in his future pursuits’’, says Leif Gustafsson, President and CEO of Cramo Group.

Mr Ville Halttunen is appointed as new CFO and member of Cramo Group Management team as of today. He has worked at Cramo since 2008, and recently been responsible for the Business Control function.

Mr Mika Kouhi has been a part of Cramo since 2013 and a member of the Group Management since 2018. He has also decided to leave the company of his own accord but will stay on until mid-April to help lay the foundation for the integration process with Boels Rental.                      

“Mika has been a driving force behind the formation and execution of Cramo Group’s strategy. Mika has been central in transforming the company through diverse transactions, and has led our deal teams in divestments, acquisitions and in both recent stock market related transactions. I have always appreciated the broader perspective he has taken as a member of Group Management. Through his strong commercial background and technical knowledge, he has made major contributions to our continued growth. After seven years at Cramo, I understand that Mika wants to look for new challenges outside of the company. I want to warmly thank him for this time and wish him all the best”, says President and CEO Leif Gustafsson.

Further information:

Sohana Josefsson, SVP Marketing & Communication, tel: 9,

Distribution:

Nasdaq Helsinki Ltd

Main media

Cramo is one of the leading European equipment rental services companies with revenue of EUR 613 million in 2019, serving approximately 150,000 customers through around 300 depots across 11 markets with a full range of machinery, equipment and related services. Cramo enjoys solid market position in all key markets and has a strong focus on the most sophisticated customers primarily within the renovation and new-build construction, industrial and public sector end-markets. Cramo shares (CRA1V) are listed on Nasdaq Helsinki Ltd. Boels Topholding B.V. has acquired more than 90 percent of all Cramo's shares and will delist the company from Nasdaq Helsinki Ltd as soon as permitted under applicable laws.

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