YIT announces new strategy and financial targets for 2025-2029, introduces a new segment structure
YIT Corporation Stock exchange release April 1, 2020 at 2:15 p.m.
Appointments in YIT’s Management Team
According to YIT’s strategy, the Partnership properties segment, urban development and services are the main sources for growth and profitability. To speed up development in these areas, Esa Neuvonen, M.Sc. (Econ), EVP, Business premises segment and Partnership properties segment, will focus on leading the Partnership properties segment going forward. Esa will continue as a member of the Group Management Team and report to the President and CEO Kari Kauniskangas.
Tom Ekman, M.Sc. (Tech), has been appointed as EVP, Business premises, as of May 1, 2020. He will report to the President and CEO Kari Kauniskangas. Tom has previously been working as a division head at YIT’s Business premises and Housing Finland and CEE segments. He has been working in YIT since 1997 in various line manager positions in both commercial and residential development businesses. Going forward, the Business premises segment will focus on the construction phase of the projects and the productivity improvement of business premises construction.
Kari Kauniskangas, President and CEO: ”The Partnership properties segment and services have a key role in our strategy. The Partnership properties segment has clear growth targets, and we are strengthening our organisation accordingly. Esa has excellent qualifications to execute our plan to develop this business. I also wish Tom warmly welcome to the Group Management Team. With these changes, we are establishing clear focus areas for leadership and a possibility to drive different types of transformation in the segments forward.”
Following the changes, the members of YIT Management Team as of May 1, 2020 are:
- Kari Kauniskangas, President and CEO
- Ilkka Salonen, CFO, Deputy to President and CEO
- Tom Ekman, EVP, Business premises segment
- Teemu Helppolainen, EVP, Housing Russia segment
- Antti Inkilä, EVP, Housing Finland and CEE segment
- Harri Kailasalo, EVP, Infrastructure projects segment
- Juha Kostiainen, EVP, Urban development
- Esa Neuvonen, EVP, Partnership properties segment
- Juhani Nummi, EVP, Operations development
- Pii Raulo, EVP, Human Resources
For further information, please contact:
Tommi Järvenpää, Vice President, Investor Relations, YIT Corporation, tel +358 40 576 0288, tommi.jarvenpaa@yit.fi
YIT Corporation
Tommi Järvenpää
Vice President, Investor Relations
Distribution: NASDAQ Helsinki, key media, www.yitgroup.com
YIT is the largest Finnish and a significant North European construction company and urban developer. We develop and build apartments and living services, business premises and entire areas. We are also specialised in demanding infrastructure construction. Together with our customers, our nearly 8,000 professionals are creating more functional, attractive and sustainable cities and environments. We work in 10 countries: Finland, Russia, Sweden, Norway, the Baltic countries, Czech Republic, Slovakia and Poland. Our revenue in 2019 was approximately EUR 3.4 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy. www.yitgroup.com