24/09/2013 12:30:00

Stig Gustavson to step down as Chairman in 2014

Vantaa, Finland, 2013-09-24 13:30 CEST (GLOBE NEWSWIRE) --

Cramo Plc Stock Exchange Release 24 September 2013 at 2.30 pm (EET)

Stig Gustavson to step down as Chairman in 2014

Dr Stig Gustavson, Chairman of the Board of Directors of Cramo Plc, has

informed the Board of Directors in its meeting held today that he will not be

available in the election of the Board of Directors in the next Annual General

Meeting. Dr Gustavson continues to serve as the Chairman of the Board of

Directors until the end of his term.

Dr Gustavson (born 1945) has served as a member of the Board of Directors since

2006 and as Chairman since 2007. Dr Gustavson made his announcement to allow

the company sufficient time to complete a succession planning process before

the election of the Board of Directors in the Annual General Meeting in 2014.

The Nomination and Compensation Committee of Cramo Plc has a duty to make a

proposal regarding the composition of the Board of Directors to the Annual

General Meeting. The Annual General Meeting will elect the new Board of

Directors of Cramo Plc in 2014 and the new Board of Directors will elect the

Chairman from amongst its members.

In order to ensure continuity in the management of the company, the Nomination

and Compensation Committee has requested Ms Helene Biström to give her consent

to be re-elected as a member of the Board of Directors at the next Annual

General Meeting in 2014. Ms Biström, who has served as a member of the Board of

Directors since 2011, has given her consent to the candidacy.

The Board of Directors announces that, contingent on a majority of its current

members being re-elected at the next Annual General Meeting, it intends to

elect Ms Biström as the new Chairman. Ms Biström has consented to the intended

election.

To facilitate the work of the Nomination and Compensation Committee during the

search for other candidates for members of the Board of Directors, the Board of

Directors resolved in its meeting today to elect Ms Helene Biström as the

Chairman of the Nomination and Compensation Committee, replacing Dr Stig

Gustavson with immediate effect. Dr Gustavson continues to serve as a member of

the Nomination and Compensation Committee until the next Annual General

Meeting.

CRAMO PLC

Vesa Koivula

President and CEO

Further information

Vesa Koivula, President and CEO, tel. +358 10 661 10 or +358 40 510 5710

Distribution

NASDAQ OMX Helsinki Ltd.

Major media

www.cramo.com

Cramo is one of the largest equipment rental service companies in Europe,

specialising in construction machinery and equipment rental and rental-related

services as well as the rental of modular space. Cramo operates in fifteen

countries with close to 400 depots. With a group staff around 2.550, Cramo’s

consolidated sales in 2012 was EUR 690 million. Cramo shares are listed on the

NASDAQ OMX Helsinki Ltd. Further information: www.cramo.com

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