Changes in Nokian Tyres operating model and leadership

Nokian Tyres plc Stock Exchange Release December 12, 2018, at 11:00 a.m. 

Nokian Tyres strategy in Europe is to continue to be the market leader in the Nordics and to grow faster than the market in Central Europe. In order to drive these ambitions further, the company is now separating Business Area Europe into two business areas: Business Area Central Europe and Business Area Nordics. Anna Hyvönen, SVP Vianor and member of Nokian Tyres Management Team, has been appointed SVP Nordics and Vianor, with the additional responsibility for Nokian Tyres Nordics. Pontus Stenberg, who has been SVP Europe and member of Nokian Tyres Management Team, is leaving the company to pursue his career outside of Nokian Tyres. Hannu Liitsola, currently Managing Director Central Europe, has been appointed interim Head of Business Area Central Europe.

Both Anna Hyvönen and Hannu Liitsola report to the President and CEO Hille Korhonen. The changes are effective immediately.

Nokian Tyres Nordics and Vianor will both operate as a separate Business Area / Business Unit, but under one leadership, with increasing synergies both on strategic and operational level across the two entities.

“One Nordics model, including both Nokian Tyres and own Vianor branded business, will under Anna Hyvönen’s leadership enable us to further strengthen our position in Finland, Sweden and Norway. Structural and process synergies are evident and the aim is also to further clarify roles of the Business Area Nordics and Business Unit Vianor in distribution”, says Hille Korhonen, President and CEO of Nokian Tyres. “I want to thank Pontus Stenberg for his contribution to success of the company over the past 8 years. We wish him all the best for the future.”

“The journey from a local tire producer to a globally recognized automotive specialist has been remarkable and I’m delighted of having been a part of that journey”, says Pontus Stenberg.

Nokian Tyres plc

Päivi Antola
SVP, Corporate Communications and Investor Relations

For further information, please contact:

Hille Korhonen
President and CEO, Nokian Tyres plc
tel. +358 10 401 7733

Distribution: Nasdaq Helsinki Oy, media and www.nokiantyres.com

Nokian Tyres is the world’s northernmost tyre manufacturer and one of the most sustainable companies in the industry. We offer peace of mind in all conditions by developing high-quality, safe and eco-friendly tyres for passenger cars, trucks and heavy machinery. We are especially well known for our innovative winter tyres. Our group also includes the Vianor chain, specialising in vehicle maintenance and tyre services. In 2017, the company’s turnover was approximately EUR 1.6 billion and it employed some 4,600 people. Nokian Tyres is listed on Nasdaq Helsinki. Further information: www.nokiantyres.com