YIT CORPORATION’S BOARD OF DIRECTORS DECIDED THE COMPOSITION OF ITS COMMITTEES

YIT CORPORATION’S BOARD OF DIRECTORS DECIDED THE COMPOSITION OF ITS COMMITTEES

YIT Corporation's Board of Directors held its organizational meeting on March 13, 2012. In the meeting the Board decided on the composition of the Audit Committee, Personnel Committee as well as the Working Committee.

From among its number, the Board elected Michael Rosenlew as chairman and Reino Hanhinen and Satu Huber as members of the Audit Committee. The Audit Committee assists the Board of Directors in the supervision of the Group's reporting and accounting processes. Its tasks include overseeing the financial reporting process of the company, effectiveness of internal control, internal audit and risk management systems as well as monitoring and assessing the audit.

The Board decided to change the name of the Nomination and Rewards Committee to Personnel Committee and confirmed new rules of procedure for it; according to the new rules, the task of the Committee is to assist the Board in matters related to appointing and rewarding key personnel. Among other things, the Personnel Committee prepares proposals for the development of the Group’s corporate culture and HR policy, remuneration and incentive schemes, the rules for performance bonuses, and the bonuses paid to the management. In addition, identifying talents, the development of key personnel, and planning for management replacements fall under the preparation responsibility of the Committee. From among its number, the Board elected Henrik Ehrnrooth as chairman and Reino Hanhinen and Antti Herlin as members of the Personnel Committee.

In addition, the Board elected Henrik Ehrnrooth as chairman and Reino Hanhinen and Michael Rosenlew as members of the Working Committee. The tasks of the Working Committee include addressing of matters related to business development and preparing proposals for the Board of YIT. The Working Committee addresses matters related to Group strategy, business segment structure, business organisation and significant investments.

For additional information, please contact: 

Juhani Pitkäkoski, President and the CEO, YIT Corporation, tel. +358 20 433 3301, juhani.pitkakoski@yit.fi

YIT CORPORATION

Hanna-Maria Heikkinen
Vice President, Investor Relations

Distribution: NASDAQ OMX, principal media, www.yitgroup.com

YIT celebrates its 100th anniversary in 2012. The company was established in the Grand Duchy of Finland in 1912. Today, YIT is a leading European service company in building systems, construction services and services for industry. Our 26,000 professionals serve customers in 14 countries in the Nordic and Baltic countries, Russia and Central Europe. We have grown together with our customers and developed our services in line with the changes taking place in different societies. We intend to continue on that track. Our vision is to lead the way in creating and maintaining good living environments. In 2011, YIT’s revenue was approximately EUR 4.4 billion. YIT’s shares are listed on NASDAQ OMX Helsinki. www.yitgroup.com