Changes in Exel Composites’ group management team

EXEL COMPOSITES PLC            STOCK EXCHANGE RELEASE            28 May 2018 at 09:45 EET

Olli Tevä appointed SVP Sales & Marketing, Kari Loukola appointed SVP Exel Composites Americas and President of DSC

Mr. Olli Tevä, 47, has been appointed SVP, Sales & Marketing and member of Exel Composites Plc's Group Management Team as of 1 August 2018. He holds an M.Sc. in Electrical Engineering from Helsinki University of Technology.

Mr. Tevä has wide management experience in Sales, Marketing and Aftersales Service functions from industrial companies. His latest position was Global Sales Director in Ensto Utility Networks BU. Prior to Ensto he worked 10 years with Vacon Oyj where he held positions of Marketing Director Renewable energy, Regional Vice President for Sales in Middle East, India, South East Asia and Pacific, and Vice President for Global After-market services and Centers of Excellence (the last position in merged Vacon Oyj and Danfoss drives). Prior to that he worked amongst other things at Vaisala Oyj in sales and product management roles.

With immediate effect Mr. Kari Loukola, 55, M.Sc. Eng, M.Sc. Econ, has been appointed as SVP Exel Composites Americas with the P&L and growth responsibility of the region. Additionally, he will assume the Company president role of the recently acquired USA based company Diversified Structural Composites Inc. (DSC). Kari Loukola will continue holding the SVP Sales and Marketing role until the end of July 2018 when Olli Tevä starts in that role. Kari continues to be member of Exel Composites Group Management team and reporting directly to President and CEO.

“In order to continue executing Exel Composites’ growth strategy, we are now able to strengthen our Management Team with Olli Tevä, who has a solid track record growing sales in international industrial companies and demonstrating great marketing skills. At the same time we can dedicate Kari Loukola full time to the profitability turnaround of DSC and growing the business in the Americas with full utilization of cross-selling opportunities and synergies within the Group”, Mr. Riku Kytömäki, President and CEO of Exel Composites, says.

Vantaa, 28 May 2018

Exel Composites Plc
Riku Kytömäki, President & CEO

For further information, please contact:

Riku Kytömäki, President and CEO
tel. +358 50 511 8288
riku.kytomaki@exelcomposites.com

Mikko Kettunen, CFO
tel. +358 50 347 7462
mikko.kettunen@exelcomposites.com

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Nasdaq Helsinki Ltd
Main news media
www.exelcomposites.com

Exel Composites in brief

Exel Composites (www.exelcomposites.com) is a leading composite technology company that designs, manufactures and markets composite products and solutions for demanding applications. Exel Composites provides superior customer experience through continuous innovation, world-class operations and long-term partnerships.

The core of the operations is based on own, internally developed composite technology, product range based on it and strong market position in selected segments with a strong quality and brand image. Profitable growth is pursued by a relentless search for new applications and development in co-operation with customers. The employees' expertise and high level of technology play a major role in Exel Composites’ operations. Exel Composites Plc share is listed in Nasdaq Helsinki Ltd.