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Cavotec announces generational change of leadership and launch of a new strategic plan

08:30 / 28 November 2016 Cavotec Press release

Cavotec SA
Company Announcement

Cavotec announces generational change of leadership and launch of a new
strategic plan

Chairman Stefan Widegren and CEO Ottonel Popesco to hand over leadership of
Cavotec SA ("the Company") during 2017. Patrik Tigerschiöld has been appointed
as Deputy Chairman. The new strategic plan envelopes wide ranging strategic and
organisational changes, marking a new phase for Cavotec and providing a roadmap
up to 2021. 

To ensure continued growth and to safeguard Cavotec’s future as leader in its
markets, Chairman Stefan Widegren – with full involvement of the CEO Ottonel
Popesco and the Board – has started the process to pave the way for the final
steps of a generational change in Cavotec. As a dynamic and growing company
Cavotec has been in continuous development since its founding in the early
1970’s. Hallmark of the Company’s success is the continuity and stability
provided by management, focussing on transparency and hands-on leadership,
combined with a strong spirit of entrepreneurship. 

With the aim to bring the company to the next level, the Board of Directors
recognises the need to bring in new resources and is fully committed to a
smooth and seamless handover ensuring continuity of leadership. This selection
and appointment process will be done in an open and transparent manner, closely
involving both the current Chairman and CEO, leveraging their deep knowledge
and expertise built over the years running Cavotec SA. 

“Personally, I am committed to continue in my position as Chairman as long as
necessary to ensure a smooth transition”, says Stefan Widegren, Chairman of
Cavotec SA. “Having said that, my goal would be to vacate the Chairman position
by no later than the OGM in 2018 and I welcome the Board’s decision to appoint
Patrik Tigerschiöld as Deputy Chairman of Cavotec”. 

“My mission is to ensure continuity of the business until the handover is fully
completed” says Ottonel Popesco, CEO of Cavotec SA since 2007. “Thereafter I
will continue to work as a Board member on strategic board assignments and high
level promotion of Cavotec’s environmentally friendly solutions to airports,
port authorities and other key stakeholders”. 

Since early 2016 the Cavotec management team has been preparing, in close
cooperation with the Board of Directors, a new five-year Strategic Plan. This
plan is set to be launched in January 2017 and defines a new organisational
structure and a roadmap for the Company up to 2021. Created around Cavotec’s
vision of being the world-leading expert in engineering and supply of system
solutions to connect, electrify and automate ships, planes and mobile
equipment, the 2017–2021 Strategic Plan will ensure a more direct and focussed
approach to major markets while allowing a more efficient use of the Company’s
resources and know-how. 

“Cavotec’s mission is to be a trusted partner thanks to our global operational
and innovation excellence delivering value creation with advanced efficient and
sustainable systems for Ports, Airports & Industry” says Ottonel Popesco, CEO
of Cavotec SA. “This strategic plan will provide our customer with a more
complete and competitive offer and aims to double our sales and substantially
increase our profitability over the next 5 years”. 

The Strategic Plan 2017–2021 is planned to be launched in January 2017 and will
see the current Cavotec structure organised around two distinct Business Units
–Ports & Maritime and Airports & Industry. This will also be the new financial
reporting structure for 2017 onwards, with the current Mining & Tunnelling
operations being integrated into the new Airports & Industry Business Unit. 

A conference call will be held at 11:00 CET today. To ensure a prompt start to
the meeting we kindly ask you to dial in five minutes prior to the scheduled
start time. 

Conference call details:
Dial-in number: +46 8 503 364 34
Conference ID number: 25 34 54 83

For further information on the Strategic Plan 2017–2021 please visit our
Investor Relations website and download the document titled (“Cavotec Strategic
Plan Summary”) under 


Stefan Widegren                                                                
    Ottonel Popesco 
        Group Chief Executive Officer                                     

The information in this release is subject to the disclosure requirements of
Cavotec SA under the Swedish Securities Market Act and/or the Swedish Financial
Instruments Trading Act. This information was publicly communicated on 28
November 2016, 08:30 CET.

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