KONECRANES PLC BOARD OF DIRECTORS’ ORGANIZING MEETING

In the first meeting of the Board of Directors of Konecranes after the Annual General Meeting Mr. Stig Gustavson informed the Board that he would not be available to continue as the Chairman of the Board due to his age, but that he would like to continue to serve the company. The Board of Directors elected Mr. Christoph Vitzthum Chairman of the Board and Mr. Stig Gustavson Vice Chairman of the Board.

“I’m taking up the position of the Chairman of the Board with great respect. The company is in a very interesting and demanding development phase,” says the Chairman of the Board Christoph Vitzthum. “I’m delighted that Stig Gustavson has promised to support me in my tasks and particularly in matters related to the merger,” he continues.

Mr. Svante Adde was elected Chairman of the Audit Committee, and Mr. Ole Johansson and Ms. Malin Persson as Committee members. Mr. Bertel Langenskiöld was elected Chairman of the Nomination and Compensation Committee, and Mr. Stig Gustavson and Mr. Christoph Vitzthum as Committee members.

Of the Board members Stig Gustavson is deemed to be dependent of the company based on the Board’s overall evaluation relating to his former and current positions in Konecranes combined with his substantial voting rights in the company. He is independent of any significant shareholders. Of the Board members Ole Johansson is deemed to be dependent of significant shareholders of the company based on his current position as Chairman of the Board of Directors of Hartwall Capital Oy Ab. Bertel Langenskiöld is deemed to be dependent of significant shareholders of the company based on his previous position as the Managing Director of Hartwall Capital Oy Ab.

While both Svante Adde and Malin Persson have served as directors of the company for more than ten consecutive years, they are deemed to be independent of the company since their independence is not compromised by this or any other factor according to the Board's overall evaluation. Christoph Vitzthum, who has served as a director of the company for one year, is independent of both the company and significant shareholders.

KONECRANES PLC

Miikka Kinnunen
Director, Investor Relations

FURTHER INFORMATION
Mr. Miikka Kinnunen, Director, Investor Relations, tel. +358 20 427 2050

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 2015, Group sales totaled EUR 2,126 million. The Group has 11,900 employees at 600 locations in 48 countries. Konecranes is listed on the Nasdaq Helsinki (symbol: KCR1V).

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www.konecranes.com