SRV makes changes to its Corporate Executive Team

Espoo, Finland, 2017-01-03 11:00 CET (GLOBE NEWSWIRE) -- SRV GROUP PLC                        STOCK EXCHANGE RELEASE           3 JANUARY 2017, AT 12.00

SRV makes changes to its Corporate Executive Team

SRV has made changes to its Corporate Executive Team to better fulfil the implementation of its strategy, which was updated in early 2016. The main changes made to the Corporate Executive Team relate to International Operations and Finance. The changes also aim to increase efficiency in Corporate Executive Team activities.

As of 1 January 2017, Veli-Matti Kullas has been appointed to lead SRV’s International Operations. His responsibilities in the new Corporate Executive Team will include both International Operations and related project development. SRV’s international markets are centered on Russia and Estonia. The focus of operations in Russia is on developing and operating shopping centres, and in Estonia on developing existing land areas. Kullas was previously responsible for project development in Russia and was a member of the Corporate Executive Team.

Ilkka Pitkänen continues as SRV’s Chief Financial Officer (CFO), and as of 1 January 2017 will be solely responsible for financial matters in the Corporate Executive Team. Senior Vice President, Financial Administration Valtteri Palin will continue in his former role being in charge of Group finance, controller function and taxation, but in future will no longer be a member of the Corporate Executive Team.

“Outwardly, the changes do not appear to be big, but they reflect well the work we are doing in SRV and the direction in which we are heading. The core of all of our operations and strategy is developing urban centres and, as part of this, we are continually renewing our operating models to correspond better to the needs of our clients, stakeholders and investors. The implementation of our strategy, updated in early 2016, has advanced well and the work is continuing,” says President & CEO Juha Pekka Ojala , describing the changes.

In addition to the Corporate Executive Team, the organisations and operating models of Operations In Finland and International Operations have also been renewed to correspond better to both the strategy and daily operational needs.

Further information:

Juha Pekka Ojala, President & CEO, tel. +358 40 455 213, jp.ojala@srv.fi Päivi Kauhanen, Senior Vice President, Communications, tel. +358 50 598 9560, paivi.kauhanen@srv.fi

www.srv.fi

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