Change in the KONE Executive Board

KONE Corporation, stock exchange release, February 3, 2020 at 09.00 a.m. EET

Change in the KONE Executive Board

Larry G. Wash has decided to leave KONE as of 28 February 2020, to pursue interests outside the company. He has served as Executive Vice President responsible for KONE Americas since July 2012, and has been a member of KONE’s Executive Board.

The search for Wash's successor is in progress. Ken Schmid, Sr. Vice President, Finance for KONE Americas, has been named interim leader.

"I would like to thank Larry for his significant contributions to KONE in both the Americas and globally. During his more than seven years with KONE, the performance of our Americas business has substantially improved. We have had a continued profitable growth with improving market performance. Larry leaves the business in a much better shape than it was when he joined us in 2012. I wish him success in his new endeavours," says Henrik Ehrnrooth, President and CEO of KONE.

For more information, please contact:

Susanne Skippari, Executive Vice President, Human Resources, KONE Corporation, tel. +358 204 75 4524

Sender:

KONE Corporation

Henrik Ehrnrooth
President and CEO

Susanne Skippari
Executive Vice President
Human Resources

About KONE:

At KONE, our mission is to improve the flow of urban life. As a global leader in the elevator and escalator industry, KONE provides elevators, escalators and automatic building doors, as well as solutions for maintenance and modernization to add value to buildings throughout their life cycle. Through more effective People Flow®, we make people's journeys safe, convenient and reliable, in taller, smarter buildings. In 2019, KONE had annual sales of EUR 10 billion, and at the end of the year approximately 60,000 employees. KONE class B shares are listed on the Nasdaq Helsinki Ltd. in Finland.

www.kone.com