Citycon has renewed its organizational model
2/6/2013 4:49 AM EST
Citycon Oyj
Press release
Citycon has renewed its organizational model
CITYCON OYJ Press Release 6 February 2013
Citycon has renewed its organizational model and the company will from now on
be managed by clusters instead of a country based organizational model. Citycon
has been divided to eight different clusters on the basis of property
locations. The new model will be taken into use immediately.
In the organizational model Finnish shopping centres and other properties have
been divided into four different clusters, Sweden into three and Baltic
Countries and New Business into one cluster. Each cluster is managed by a
Commercial Director, who reports to the Chief Operating Officer. The Commercial
Director has a team of shopping centre managers, a leasing manager and a
technical manager. To support the clusters and bring cross-border synergies the
Development and Sustainability, Marketing as well as Finance and Accounting
functions in all countries have been centralized. In accordance to the renewal,
Vice President of Finnish operations Mr. Marko Juhokas has been appointed as
the Group’s Senior Vice President of Development and Sustainability.
“Our new operational model supports the goal of creating “One Citycon”. We want
to better serve our clients and therefore have shifted the decision making
power closer to our tenants and everyday life. Centralizing responsibilities
will bring synergies to benefit all of our operations, all the way to the
tenants and clients. For example in marketing, we can easily use the same
campaigns across the region,” comments Citycon’s CEO Marcel Kokkeel and
continues: “Through this new model we aim at gaining internal efficiency,
increased internal cooperation and improved entrepreneurial attitude and
ownership with the help of clearer roles and responsibilities. Internal
efficiency is important to us at Citycon and we consider it to be a major
contributor to our published cost saving targets for 2013.”
Group level functions such as Accounting and Treasury, Group Control, IT, HR,
Legal, IR and Communications continue unchanged to support the business
clusters.
Helsinki, 6 February 2013
CITYCON OYJ
For further information, please contact:
Marcel Kokkeel, CEO
Tel. +358 20 766 4521 or +358 40 154 6760
Eero Sihvonen, Executive Vice President and CFO
Tel. +358 20 766 4459 or +358 50 557 9137
Distribution:
NASDAQ OMX Helsinki
Major media
www.citycon.com