President and CEO Kari Kauniskangas to leave YIT Corporation, EVP Antti Inkilä appointed as interim President and CEO

President and CEO Kari Kauniskangas to leave YIT Corporation, EVP Antti Inkilä appointed as interim President and CEO

The CEO of YIT will change. Kari Kauniskangas will leave his position as the President and CEO of YIT Corporation. The Board of Directors has already embarked upon the search process for a new CEO, and appointed Antti Inkilä, EVP of Housing Finland and CEE segment of YIT, as interim President and CEO effective 23 October 2020.

“YIT's business is based on sustainable urban development. In addition to construction, the company emphasizes the growth of property investments and services business in its strategy. Lately, the Business premises segment has faced significant profitability challenges. The main priorities of a future CEO will be implementing strategy, ensuring operational efficiency and promoting customer oriented and inclusive culture in rapidly changing markets, says Harri-Pekka Kaukonen, Chairman of the Board of Directors of YIT.

Kauniskangas has held the position of President and CEO since 2013. He previously served as Segment Head of International Construction Services and Deputy CEO of YIT Corporation in 2008–2013.

“I want to thank Kari Kauniskangas for his long-standing contribution to the company. YIT has undergone a significant change in recent years. Kari has done uncompromising and committed work with the extensive integration following the Lemminkäinen merger and selling YIT’s Nordic paving and mineral aggregates businesses. YIT is a stable and strong company, and a pioneer in its field. Kari’s deep industry knowledge and inspirational leadership were instrumental in achieving great changes”, says Harri-Pekka Kaukonen.

Marko Oinas, VP, Strategy and Development of Housing Finland and CEE segment at YIT, is appointed as EVP of the segment and member of the Management Team while Antti Inkilä serves as interim President and CEO.

For further information, please contact:
Harri-Pekka Kaukonen, Chairman of the Board of Directors, YIT Corporation
Interview requests through Corporate communications, tel. +358 44 743 7536, press@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