Helsinki, Finland, 2014-10-30 07:10 CET (GLOBE NEWSWIRE) -- YIT CORPORATION STOCK EXCHANGE RELEASE OCTOBER 30, 2014 AT 8:10 A.M.
YIT Corporation to change its segment structure and the composition of the Group Management Board
YIT Corporation will change its segment structure and the composition of the Group Management Board as of the beginning of 2015. The objective of the change is to streamline the structure.
The current Housing segment will be split into Housing Finland and CEE and Housing Russia segments. The Housing Finland and CEE segment will be equivalent to the former Housing Finland, the Baltic countries and Central Eastern Europe business area. The Business Premises and Infrastructure segment will remain as before.
YIT’s three reporting segments as of January 1, 2015 will be:
- Housing Finland and CEE
- Housing Russia
- Business Premises and Infrastructure
Reporting under the new segment structure will begin from the January–March 2015 interim report, which will be published on April 28, 2015. The 2014 comparison figures for the new segment structure will be published in March 2015.
In connection with the change in the segment structure, Teemu Helppolainen, M.Sc. (Econ.), is appointed Head of the Housing Russia segment. He has previously been responsible for the corresponding business area. Antti Inkilä, M.Sc. (Tech.), is appointed Head of the Housing Finland and CEE segment. He has worked in various positions at YIT, with the most recent being Head of the Apartment Houses Metropolitan Area unit in Finland.
As of January 1, 2015, the Group Management Board will consist of YIT Corporation’s President and CEO Kari Kauniskangas, YIT Corporation’s Executive Vice President and Head of the Business Premises and Infrastructure segment Tero Kiviniemi, Head of the Housing Russia segment Teemu Helppolainen, Chief Financial Officer Timo Lehtinen, Senior Vice President, Human Resources Pii Raulo, Senior Vice President, Business Development Juhani Nummi and as a new member Head of the Housing Finland and CEE segment Antti Inkilä. The Extended Group Management Board will include the Heads of business divisions Kari Alavillamo, Jouni Forsman, Harri Isoviita, Pavel Kocherezkin, Matti Koskela, Timo Lehmus, Tom Sandvik and Mikhail Voziyanov, in addition to the members of the Group Management Board.
For additional information, please contact:
Kari Kauniskangas, CEO, YIT Corporation, +358 40 570 1313 kari.kauniskangas@yit.fi
Sanna Kaje, Vice President, Investor Relations, YIT Corporation, +358 50 390 6750, sanna.kaje@yit.fi
YIT CORPORATION
Sanna Kaje
Vice President, Investor Relations
Distribution: NASDAQ OMX, principal media, www.yitgroup.com
YIT is a construction industry leader. We create better living environments in Finland, Russia, the Baltic countries, the Czech Republic and Slovakia. Over 100 years of experience have secured for us a strong market position: We are the largest housing developer and one of the largest business premises and infrastructure developers in Finland, and the most significant foreign housing and area developer in Russia. Our vision is to stay one step ahead – while caring for our customers, partners and personnel. We have more than 6,000 employees in seven countries. In 2013, our revenue amounted to nearly EUR 1.9 billion. Our share is listed on Nasdaq OMX Helsinki. www.yitgroup.com