HANNU LEINONEN TO BE YIT?S NEW GROUP CEO AS OF THE BEGINNING OF
YIT CORPORATION STOCK EXCHANGE BULLETIN April 11, 2005 10:00
HANNU LEINONEN TO BE YITS NEW GROUP CEO AS OF THE BEGINNING OF 2006
Sakari Toikkanen to be the new executive vice president and deputy to the Group CEO
At its meeting today, YIT Corporations Board of Directors decided to appoint Hannu Leinonen (42 years old), M.Sc. (C.E.), as YIT Corporations Group CEO and Sakari Toikkanen (37 years old), Lic.
(Tech.), as executive vice president and the deputy to the Group CEO. The new executives will assume their positions on January 1, 2006, when current Group CEO Reino Hanhinen (61 years old) retires. As of the beginning of 2006, Hanhinen will become the chairman of YITs Board of Directors. The current chairman of the Board, Ilkka Brotherus, will assume the vice chairmanship of the Board. Esko Mäkelä (61 years old) will continue to serve as senior vice president until December 31, 2006; with responsibility for investor relations.
Hannu Leinonen will take over his new duties from his position as managing director of YIT Primatel Ltd, which provides data network services. He has been employed by the Group since 2002. Sakari Toikkanen will step into his new position from his present appointment as executive vice president of YIT Building Systems Oy, which provides building system services. He has been employed by the Group since 1997. As the Groups executive vice president, Toikkanens areas of responsibility will include financial administration and corporate planning. Both are members of YITs Management Board and will continue in their present positions until the end of June 2005, at which time they will begin to prepare themselves for their new tasks.
"Hannu Leinonen has a masters in construction engineering and solid experience of the construction and building systems businesses and data networks. He has developed YITs Data Network Services into a profitable technology leader in its field - the results speak for themselves. Sakari Toikkanen has been a core contributor to the Groups strategic planning for a long time now and has gained multidisciplinary experience of the Groups corporate planning and different business functions," says Reino Hanhinen.
"Through its choice of the new executives, the Board of Directors wants to emphasize continued profitable growth and internationalization based on YITs corporate culture and management by objectives system. Also in the future, this effort will continue to require management to have the agility to react to changes in the business environment and the ability to develop and identify new business opportunities," says Ilkka Brotherus, the chairman of YITs Board of Directors.
YIT CORPORATION
Veikko Myllyperkiö Vice President, Corporate Communications
Information session An information session will be held at 13:00 on Monday, April 11, 2005, on YITs premises. The address is Panuntie 11, Helsinki.
For additional information, contact: Chairman of the Board of Directors Ilkka Brotherus, tel. +358 400 480 674 Group CEO Reino Hanhinen, tel. +358 20 433 2454, reino.hanhinen@yit.fi Executive VP, CFO Esko Mäkelä, tel. +358 20 433 2258, esko.makela@yit.fi
Additional information, images and CVs www.yit.fi
Hannu Leinonen (born 1962), M.Sc. (C.E.), Managing Director of YIT Primatel Ltd since 2001. Employed by the Group since 2002.
Career history: Sonera Telecom, Director, 1999-2001, Sonera Corporation, Network Services, Director, 1996-1999, Skanska Oy, Procurement Manager, 1994-96, Haka Oy, Procurement Manager, 1992-1994, Research Engineer, 1989-1992, Work Site Engineer, 1987- 1989.
Sakari Toikkanen (born 1967), Lic. (Tech.), Executive Vice President of YIT Building Systems Oy since 2003. Employed by the Group since 1997.
Career history: YIT Corporation, Vice President, Corporate Planning, 2001-2003, YIT Construction Ltd, Development Manager, 1999-2000, and Quality Manager, 1997-1998, HUT, Researcher, 1993-1996.
