Helsinki, 2015-11-11 08:00 CET (GLOBE NEWSWIRE) --
DIGIA PLC STOCK EXCHANGE RELEASE 11 NOVEMBER 2015 AT 9 AM
PREPARATIONS FOR DIGIA SEPARATION PROGRESS: JUHA VARELIUS TO BECOME PRESIDENT & CEO OF QT AND TIMO LEVORANTA PRESIDENT & CEO OF THE DOMESTIC BUSINESS IN THE EVENT OF A SPLIT
Digia's Board of Directors is currently investigating the possibility of splitting its domestic and Qt businesses into two separate companies listed on NASDAQ OMX Helsinki. The Board has chosen Juha Varelius, MSc (Econ.), as President & CEO of the new company engaging in Qt operations if the split is carried out. Timo Levoranta, MSc (Tech.) and BSc (Econ. and Bus. Adm.), has been appointed as the new President & CEO for its domestic business.
Juha Varelius (born 1963) has been President & CEO of Digia Plc since 2008 and will continue as CEO until the potential split.
Juha Varelius has lengthy experience in managing and growing international business operations, and particularly in a rapidly changing and digitising environment. Before joining Digia, he worked for the technology company Everypoint Inc and for Yahoo (2002-2007) in London and the United States, and in a variety of management positions at Sonera (1993-2002).
“Thanks to his international background and experience, Juha Varelius is the best possible choice to lead Qt. He has successfully led Digia through major changes, while also systematically building up Qt's growing and globally attractive business,” says Pertti Kyttälä, Chairman of Digia's Board of Directors.
Timo Levoranta (b. 1965) – who has been chosen to head up Digia’s remaining operations in the event of a split, that is, the domestic business – has served in many different managerial positions in the ICT industry, most recently as the CEO of TDC Finland Oy (2011-2015). Previously he worked as Senior Vice President, Sales & Marketing, at Outokumpu Oyj (2008-2011) and in various positions at TeliaSonera (2002-2008) and Sonera (1995-2002).
“Levoranta’s strengths are his wide-ranging work experience in the ICT business (from product development to corporate management) combined with solid expertise in the service business. He has successfully helped his customers in both the public and private sectors to meet their business needs and challenges in Finland and internationally. In addition, he has experience of demanding management tasks not only at ICT companies but also in industry,” says Kyttälä.
If the split goes ahead, Varelius' and Levoranta’s appointments will come into effect on the registration date. The AGM will decide on the separation. Digia's goal is to put the separation into effect during the first half of 2016.
For more information, please contact:
President & CEO Juha Varelius, exchange +358 (0)10 313 3000
Chairman of the Board of Directors Pertti Kyttälä, tel. +358 (0)50 669 50
Distribution:
NASDAQ OMX Helsinki
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