CEO of Basware Corporation changes

Basware Corporation, stock exchange release, March 11, 2019 at 09:30 am

Vesa Tykkyläinen has today announced that he has resigned from his position as CEO of Basware. The Board of Directors has appointed Klaus Andersen, CTO of Basware, as interim CEO effective as of March 11, 2019. Vesa will work with Klaus to ensure an orderly transition. The recruitment process to select a new CEO has started.

“Vesa Tykkyläinen has successfully overseen Basware’s transition to cloud. During the last two and a half years he has taken significant steps to simplify Basware’s operations and put in place a strong company ready to accelerate growth. Basware is now in a great position to realize its growth potential in the growing source-to-pay market. We will continue to execute our strategy and work towards achieving our long-term financial and strategic targets”, said Ilkka Sihvo, Chairman of the Board. “On behalf of the entire Board, I want to extend our warmest thanks to Vesa for his contribution and wish him well in the future.”

Vesa Tykkyläinen commented “I have had the privilege to lead Basware’s transformation from a license company to a cloud company. I am proud of the team of Baswareans who have worked hard achieving this. During my time we have taken systematic steps to innovate and continuously expand and improve our world leading cloud product offering, increased productivity across the company, put in place strong country management, taken steps to serve our great customer base through account management and customer services, and initiated strong partnering activities. Basware is now in a strong position to continue the journey and it is the right time for me to hand over to the next leader.”

BASWARE CORPORATION

Board of Directors

Briefing for analysts, investors and press

A briefing for analysts, investors and press will be held today, March 11, at 1 pm EET. Basware's Chairman of the Board of Directors Ilkka Sihvo, Vesa Tykkyläinen and interim CEO Klaus Andersen will participate in the briefing. Questions can be sent through the audiocast link or by participating in the conference call.

Audiocast: https://basware.videosync.fi/2019-03-11-info

Dial-in to the conference call:

Finland: +358981710310

Sweden: +46 856642651

UK: +44 3333000804

US: +1 6319131422

PIN: 72947787#

For more information, please contact:

Investor enquiries

Ben Selby, Head of Investor Relations, Basware Corporation

Tel. +358 50 305 8077, ben.selby@basware.com

Media enquiries

Jukka Jänönen, Director, Corporate Communications, Basware Corporation

Tel. +358 40 012 7147, jukka.janonen@basware.com

Distribution:
Nasdaq Helsinki
Main media
investors.basware.com/en

About Basware:
Basware offers the largest open business network in the world and is the global leader in providing networked purchase-to-pay solutions, e-invoicing and innovative financing services. Our technology empowers organizations with 100% spend visibility by enabling the capture of all financial data across procurement, finance, accounts payable and accounts receivable functions. Basware is a global company doing business in more than 100 countries and is traded on the Helsinki exchange (BAS1V: HE).

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