2023-10-02 07:30:00 CEST

2023-10-02 07:30:08 CEST


KONE Oyj - Inside information

Inside information: KONE's President and CEO Henrik Ehrnrooth to step down during the first half of 2024

KONE Corporation, inside information, October 2, 2023 at 8:30 a.m. EEST

Inside information: KONE's President and CEO Henrik Ehrnrooth to step down
during the first half of 2024

KONE's President and CEO Henrik Ehrnrooth has informed KONE's Board of Directors
of his intention to step down from the role of President and CEO during the
first half of 2024. The Board has initiated a search for his successor. Henrik
Ehrnrooth has committed to remain as CEO until his successor has started and to
secure an orderly transition to the new CEO.

“Under Henrik's leadership KONE has grown significantly and transformed into a
true lifecycle focused people flow company. Together with his team, Henrik has
created an organization and culture that has successfully steered KONE through
significant changes in our operating environment. With our competitive offering,
strong customer relationships and support from the recently renewed operating
model, we are well positioned to continue our profitable growth. I would like to
sincerely thank Henrik for his excellent work,” says Antti Herlin, Chairman of
the Board of Directors of KONE.

“It has been a great privilege to lead KONE as President and CEO over the past
decade. Working with such a talented and motivated team has been truly
energizing and rewarding, and I would like to thank the entire organization for
their spirit and commitment to driving KONE forward. I would also like to thank
Antti Herlin and the KONE Board for our excellent collaboration. I am very
grateful for the support I have received.

When I took over as CEO, China's construction supercycle was coming to an end.
We decided to drive a larger share of growth from services and digital
technologies to strengthen our market position and resilience. We have
consistently delivered industry leading service and modernization business
growth, launched the world's first elevator series with built-in connectivity
and continuously increased the share of our maintenance base covered by our
flagship digital service platform. I am extremely proud of these achievements.
While the global construction market is challenging right now, our industry
continues to offer significant growth potential. We are at the cusp of China's
next, modernization-driven, growth phase and see considerable opportunities
across the globe from our customers' increased need for smart and sustainable
people flow solutions,” says Henrik Ehrnrooth, President and CEO of KONE.

Henrik Ehrnrooth joined KONE in 2009 as CFO and was appointed President and CEO
in 2014.

For further information, please contact:
Natalia Valtasaari, Vice President, Investor Relations, tel. +358 204 75 4705


KONE Corporation

Johannes Frände
General Counsel, Secretary to the Board

About KONE

At KONE, our mission is to improve the flow of urban life. As a global leader in
the elevator and escalator industry, KONE provides elevators, escalators and
automatic building doors, as well as solutions for maintenance and modernization
to add value to buildings throughout their life cycle. Through more effective
People Flow®, we make people's journeys safe, convenient and reliable, in
taller, smarter buildings. In 2022, KONE had annual sales of EUR 10.9 billion,
and at the end of the year over 60,000 employees. KONE class B shares are listed
on the Nasdaq Helsinki Ltd. in Finland.