Former Ramirent CEO faces criminal charge

Murray Pollok Managing Editor, IRN & Director of Content, KHL

03 April 2024

Former Ramirent CEO Tapio Kolunsarka is subject to a criminal charge in Finland in relation to stock exchange disclosures by Ramirent when he was CEO and managing director.

Cargotec Corp, where Kolunsarka is currently a board member, reported that Kolunsarka denies any involvement in criminal activity.

Ramirent has issued a statement saying the charges relate to the first six months of 2019 and that “the present management and board members of Ramirent Ltd, its affiliates and its parent company Loxam S.A.S. are not parties to the matter.”

Tapio Kolunsarka was CEO of Ramirent plc between 2016 and 2019.

Kolunsarka was CEO of Ramirent from 2016 until 2019, stepping down from the post shortly after Ramirent was acquired by Loxam.

Sari Helander, chief financial officer of Ramirent, said in a statement; “It has come to the attention of Ramirent Ltd that the authorities have been investigating a matter related to Ramirent Plc’s (now Ramirent Ltd) former CEO and board members from the first half of year 2019.

“The present management and board members of Ramirent Ltd, its affiliates and its parent company Loxam S.A.S. are not parties to the matter.

“Ramirent Ltd, its affiliates and its parent company Loxam S.A.S. cooperate fully with the authorities and will make further announcements regarding the matter on Ramirent Ltd’s behalf as and when there are any material developments.”

Cargotec, the owner of Hiab and Kalmar, said in a release; “the public prosecutor has decided to press charges against Tapio Kolunsarka, who is a member of the Board of Directors of Cargotec, in a criminal matter concerning certain Ramirent Plc’s disclosures as a listed company.

“Tapio Kolunsarka acted as the Managing Director of Ramirent Plc during the period referred to in the charges in 2019.

“According to information received by Cargotec, Tapio Kolunsarka denies any involvement in criminal activity. Cargotec is not a party to the matter. The charges do not affect the work of the Cargotec Board of Directors.”