Change in YIT Management Board

YIT Corporation Stock Exchange Release October 9, 2017 at 8:00 a.m.

Tero Kiviniemi, Executive Vice President of YIT, has announced to resign from the company.

YIT Corporation’s Board of Directors has nominated Chief Financial Officer Esa Neuvonen to act as Executive Vice President, and Timo Lehmus as Head of Business Premises and Infrastructure segment until the execution of the merger of YIT and Lemminkäinen. Both appointments are effective as of October 9, 2017.

“Tero Kiviniemi has had an essential role in creating a strong YIT culture and in different managerial positions during his long YIT career. I want to thank him for his significant efforts for the company during the past years”, says Kari Kauniskangas, President and CEO.

For further information, please contact:

Kari Kauniskangas, President and CEO, YIT Corporation, tel. +358 40 570 1313


Kari Kauniskangas

President and CEO

Distribution: Nasdaq Helsinki, major media,

YIT creates better living environment by developing and constructing housing, business premises, infrastructure and entire areas. Our vision is to bring more life in sustainable cities. We want to focus on caring for customer, visionary urban development, passionate execution and inspiring leadership. Our growth engine is urban development involving partners. Our operating area covers Finland, Russia, the Baltic countries, the Czech Republic, Slovakia and Poland. In 2016, our revenue amounted to nearly EUR 1.8 billion, and we employ about 5,300 employees. Our share is listed on Nasdaq Helsinki.

About Us

YIT is the largest Finnish and significant North European construction company. We develop and build apartments, business premises and entire areas. We are also specialised in demanding infrastructure construction and paving. Together with our customers our 10,000 professionals are creating more functional, more attractive and more sustainable cities and environments. We work in 11 countries: Finland, Russia, Scandinavia, the Baltic States, the Czech Republic, Slovakia and Poland. The new YIT was born when over 100-year-old YIT Corporation and Lemminkäinen Corporation merged on February 1, 2018. Our pro forma revenue for 2017 was over EUR 3.8 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy.