Rental company Cramo has announced the appointment of the team members that will head up its new modular space company Adapteo, ahead of its proposed demerger.

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Philip Isell Lind af Hageby is to take up the dual position of President and CEO of Adapteo

Philip Isell Lind af Hageby is to take up the dual position of President and CEO. A graduate of the Stockholm School of Economics, Hageby has been a member of the Cramo Group management team since 2017, previously serving as Managing Director and Senior Vice President of Inwido Group’s Norwegian business area and holding various positions at Scan Coin.

Hageby said, “I am proud of the strong team that Adapteo has in place in anticipation of the proposed spin-off. In our view, Adapteo will have a scalable and competitive platform, and our focus will be on shareholder value creation through capturing the opportunities we see in various modular space markets.”

Cramo’s board of directors also appointed Timo Pirskanen as the new company’s CFO, with Björn Kölerud taking up the position of Interim Executive Vice President, Permanent Space Business Area.

Simon Persson and Teemu Saarela will join Adapteo as Senior Vice Presidents of HR Development and Corporate Development respectively, while Hanna Wennberg will assume the role of Senior Vice President, Marketing and Communications.

Veli-Matti Reinikkala, Chairman of the Board of Cramo, said, “The board is confident that Mr Isell Lind af Hageby and Adapteo’s group management team have the right capabilities, personal qualities and experience to manage Adapteo’s strategy execution and growth following the completion of Cramo’s proposed demerger.”

The newly appointed Adapteo team will remain in their current roles until the proposed demerger is completed. Cramo said it expects to complete the demerger by the end of this year’s third quarter.

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