In September 2019 Konecranes announced it was refreshing some of its products in three new series of industrial cranes. The S-series crane, which is suitable for a number of industrial lifting needs, has replaced the traditional steel cable with synthetic rope. The C-series chain hoist and M-series crane were also introduced, with the latter focusing on heavy lifting needs in particular. In October 2019 Konecranes appointed Rob Smith as president and CEO. He is starting in the position in February 2020 and meanwhile the company's CFO and Deputy CEO, Teo Ottola, will act as the interim CEO. Smith was previously working at AGCO Corporation as Senior Vice President & General Manager, Europe and Middle East. The former president and CEO Panu Routila left the company on the same day. In December 2019, Konecranes said it would acquire the 50% stake in its MHE-Demag JV held by partner Jebsen & Jessen to improve its market position in Southeast Asia. The deal, worth around EUR 147 million, closed in January 2020.