Efecte Plc  --  Company Announcement -- 13 July 2018 at 9:30

NIILO FREDRIKSON APPOINTED AS CEO OF EFECTE PLC

The Board of directors of Efecte Plc has appointed Niilo Fredrikson (b. 1980) as the new CEO on Efecte Plc. He will start as the CEO by the end of the year. Fredrikson holds M.Sc.(Tech.) and M.Sc.(Econ.) degrees with specialization in internationalization of software companies and viral marketing.

Niilo Fredrikson is currently working at Nokia, leading a unit focusing on analytics and AI software products. Before that he was member of the management team of Comptel Plc, being responsible for the Intelligent Data business unit. Nokia acquired Comptel last year. Earlier Fredrikson served for over ten years at Microsoft, latest as a global partner and marketing director for Office 365 cloud services in Redmond, USA. Fredrikson has also been a software entrepreneur in Nobman Informatics and Ch5 Finland companies as well as served in the board of Ohjelmistoyrittäjät ry.

Fredrikson has been a board member in Efecte Plc since 2017 and knows well the company's business and prospects. He will resign from the board when he starts as the CEO.

The current CEO's employment at Efecte will continue until the end of August. CFO Hannu Nyman will act as the interim CEO until Niilo Fredrikson can start in his position.

Efecte's chairman of the board, Pertti Ervi: "We are extremely happy for getting Niilo to build Efecte's future and internationalization as the CEO. Niilo's versatile background in software companies, cloud services and international business suits extremely well for build the next phase in Efecte's development."

"The most exciting thing in Efecte is the potential for creating internationally significant Finnish cloud business. In the board I have seen the potential of the company and I find the strategy of focusing on building long-term growth as the right one. I am excited to be able to continue Efecte's growth story as the new CEO", tells Niilo Fredrikson.

Further enquiries:

Pertti Ervi
Chairman of the Board
Efecte Plc
perttiervi@me.com
+33 685 839 153

Certified Adviser:
Evli Bank Plc, tel +358 40 579 6210

Efecte Plc

Efecte is a Finnish software company that provides cloud-based service and identity management software solutions, as well as related consultancy services. They simplify and improve the efficiency of managing the services, IT systems and infrastructure in an organization. Measured by number of customers, Efecte is one of the leading software vendors in its field to large, medium-sized and public organizations in Finland and the Nordic countries. The Company was founded in 1998. In addition to Finland, it has operations in Sweden, Denmark, and Germany. Efecte employs around 100 professionals and had a turnover of 10.6 million euros in 2017.

www.efecte.com