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Cavotec names Mikael Norin as new CEO

09:00 / 10 February 2017 Cavotec Press release

Cavotec SA
Changes board/management/auditors

Cavotec names Mikael Norin as new CEO

The Board of Directors of Cavotec SA is pleased to announce that Mikael Norin
has been appointed CEO of the Cavotec Group. Mikael Norin will join Cavotec on
May 1, 2017 and will, after a transition period, assume full responsibility as
CEO on July 1, 2017. He will be based at the company’s headquarters in Lugano,

Mikael Norin will replace Ottonel Popesco who will continue to serve on the
board of Cavotec SA as a non-executive director, among other strategic

“The Board of Directors of Cavotec is very pleased that Mikael has agreed to
take on the challenging and exciting task of leading Cavotec with focus on
leading the work of implementing our new strategic plan,” says Stefan Widegren,
Chairman of the Board. 

“While Ottonel is not leaving Cavotec, I would like to take this opportunity to
express my and my fellow board members’ sincere thanks and gratitude to Ottonel
who, for the past three decades, has been a valued executive in building the
Cavotec Group into what it is today. Personally, I would also like to thank him
for his courage and commitment in facilitating this important generational
change for Group.” 

“I’m very excited about my next role as CEO of Cavotec. The strong position in
the market and the quality reputation that Cavotec enjoys is a great foundation
on which to build,” Mikael Norin says. 

Mikael Norin, 53, currently works as a board director and corporate advisor for
a number of companies around the world. Having lived in Europe, Asia and North
America, he has extensive experience of leading large global organisations in
highly competitive industries. 

Most recently, Mikael Norin served as President, Rolls-Royce Marine Services, a
division of the Rolls-Royce group offering after-market services and parts to
the group's marine and navy customers around the world. Marine Services is
based in Singapore and has operations in 35 countries employing approximately
2,500 people. 

Prior to this, he was President of Recall Americas, a division of Brambles Ltd,
a global industrial services group based in Sydney, Australia. Prior to joining
Recall, Mikael Norin spent 14 years with global engineering group ABB in
increasingly senior executive roles based in Asia and Europe, culminating as
Senior Vice President and head of the group’s Power Systems division based in

Mikael Norin is a native of Sweden, has engineering training and he attended
Lund University and obtained a B.Sc. in Business Administration and Economics
with a specialisation in International Business. 


Stefan Widegren, Cavotec SA Chairman

Cavotec is a global engineering group that manufactures power transmission,
distribution and control technologies that form the link between fixed and
mobile equipment in the Ports & Maritime and Airports & Industry sectors. To
find out more about Cavotec, visit our website at 

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 February
10, 2017 09:00 CET.

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