Meyer Turku Names New CEO from Cargotec Replacing Tim Meyer
Finnish shipbuilder Meyer Turku reported today that it has named Casimir Lindholm, the current President of Cargotec, to succeed family member Tim Meyer as CEO of the cruise ship builder. The move comes just weeks after the company also named former Wärtsilä CEO Jaakko Eskola as its new chairman of the board.
The yard which has a long heritage in the cruise ship sector was acquired in 2014 by Germany’s Meyer family which was best known for Meyer Werft in Papenburg, Germany. The family reports it has invested over €300 million in the development of the shipyard after acquiring it from STX. They highlight that it delivered at least one large cruise ship a year during the decade working with customers TUI’s Mein Schiff. Carnival Cruise Line, Costa, and Royal Caribbean International.
Tim Meyer took over as CEO in 2020 after being a managing director at the Papenburg yard since 2016. He replaced his brother Jan Meyer who had been CEO of Meyer Turku for two years since 2014. The company highlighted recently that Tim Meyer had been successful in returning the shipyard to profitability. He cited efforts to develop the organization, streamline processes, implement a new enterprise resource planning system, and a development program. Revenues are reported to have grown from €500 million to €2 billion.
The pandemic placed a strain on the operations but both the yards in Turku and Papenburg were able to retain their orders. Papenburg however required a financial bailout from the German government last year and as part of the deal the Meyer family ceded ownership of the yard but it still retains 100 percent ownership of Turku.
Tim Meyer said in the press release he would be focusing on the development and strategies of the shipyard and the family’s other businesses. Jan Meyer had shifted to a business development role at Papenburg, while their father Bernard Meyer has stepped down from the management of both shipyards.
“In Casimir, we have found an exceptional leader with years of experience from various industries such as construction,” said board chairman Eskola. “I already have experience from successfully working together with him in a company majority owned by a family.”
Lindholm will assume his new role in May after departing Cargotec, which today focuses on heavy road equipment after a series of transactions. Kalmar the manufacturer of cranes and heavy cargo handling equipment was spun-off and in late 2024 it agreed to sell MacGregor, a leader in maritime cargo and load handling, to a private investment firm. Previously Lindholm was president and CEO of Eltel Group, an infrastructure company, and before that, he was at Lemminkäinen Group, a Finnish construction company.
He takes the leadership of Meyer Turku as the yard is focused on building the world’s largest cruise ships for Royal Caribbean International. At the end of February, it started the propulsion plant on Star of the Seas ahead of planned sea trials and delivery ahead of its entry into service during the summer. The first blocks were set in the dry dock last October for the next 250,000 gross ton cruise ship which will be Legend of the Seas and due for delivery in 2026. Royal Caribbean has ordered a fourth Icon class cruise ship from the yard due in 2027 and has options for two additional sister ships.
Meyer Turku completed the last of the cruise ships for TUI’s Mein Schiff in June 2024 ending a decade’s long relationship. Currently, the yard is also working on a new patrol ship for the Finnish Border Guard.