Magnus Rosen last week took over as CEO of Helsinki, Finland-based Ramirent. Swedish-born Rosen joins Ramirent from BE Group, a steel trading and service company. Rosen has rental experience, having worked for many years for Ramirent rival Cramo.

“The machine and rental industry is currently facing a challenging phase, but the sector is my home turf and the opportunity of leading one of the most prominent players in Northern and Eastern Europe is truly exciting for me,” said Rosen. “Due to the market situation, Ramirent has been forced to adjust its operations. After many years of fast growth, we are entering a stabilization phase where the focus will be on safe-guarding cash flow and defending our profitability. We have taken measures to reduce costs and increase efficiency to maintain competitiveness during the economic downturn.”

Rosen succeeds Kari Kallio, who is retiring. Under Kallio’s leadership, Ramirent grew through acquisitions and rapid organic growth, doubling its net sales during his tenure.