Duties of Stockmann's CEO will temporarily be taken care of by the Chairman of the Board

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| Source: Stockmann Oyj Abp
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Helsinki, Finland, 2014-08-26 07:30 CEST (GLOBE NEWSWIRE) -- STOCKMANN plc, Changes board/management/auditors 26.8.2014 at 8:30 EET

Hannu Penttilä has informed the Board of Directors of Stockmann plc that he will step down from his position as the Chief Executive Officer on 26 August 2014. Hannu Penttilä will retire on 31 December 2014, as announced earlier.

Kaj-Gustaf Bergh, Chairman of Stockmann’s Board of Directors, will act as temporary CEO for the time being, while also taking care of his usual tasks.

The company’s strategy renewal is proceeding according to plan. The new Chief Executive Officer and the Directors of the new Stockmann Retail and Real Estate divisions will be appointed by the end of the year. In the operative business, the management is now focusing on the plans and budget for 2015.

”The strategy renewal for Stockmann is under way, and I am naturally not involved in the process, since others will be responsible for implementing the strategy. Now, as the focus turns to the coming year’s operative plans and appointing the new key persons, it is a good time for me to step aside,” says Hannu Penttilä.

Further information:
Kaj-Gustaf Bergh, Chairman of the Board, tel. +358 40 524 7730


www.stockmanngroup.com


STOCKMANN plc

Nora Malin
Director, Corporate Communications


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