Tulikivi Oyj - Company Announcement

Changes to Tulikivi Corporation´s Management Group

TULIKIVI CORPORATION                                           STOCK EXCHANGE
RELEASE 
          26 August 2013 at 3.00 p.m. 

Changes to Tulikivi Corporation's Management Group

Tulikivi Corporation is reducing the number of members in its Management Group
to four and reorganising the managers' areas of responsibility. 

Jouko Toivanen (b. 1967), D.Sc. (Tech), M.Sc. (Eng), was appointed the newDirector of Finance and Administration on 26 August 2013. Jouko Toivanen has
worked for Tulikivi since 1993 and has been a member of the Management Group
since 1995. Toivanen will leave his current post as the Head of the Lining
Stone and the Interior Stone Business when he assumes his new duties. Jouko
Toivanen has previously been the Financial Director of Tulikivi, from 2001
until 2007. A new manager will be appointed later for the Lining Stone and the
Interior Stone Businesses. Risto Vidgren, the current Financial Director, will
not continue in the company's service. 

Anu Vauhkonen (b.1972), M.A., was appointed Director of Domestic Sales and
Marketing. Anu Vauhkonen has worked for Tulikivi since 1998 and has been a
member of the Management Group since 2001. Vauhkonen will leave her current
post as the Director of Corporate Communications when she assumes her new
duties. Vauhkonen will also be given the responsibility of domestic sales,
marketing and communications, and product development. Juha Sivonen, the
current Director of Domestic Fireplace Sales, will not continue in the
company's service. 

Ismo Mäkeläinen (b. 1962), Master Builder, will continue as Director of
Production and Purchasing and as a member of the Management Group. Ismo
Mäkeläinen has been a member of the Management Group since 2009. 

In a release published on 23 August 2013, Tulikivi announced that the company
has appointed a new Managing Director. Heikki Vauhkonen (b. 1970), LL.M., B.Sc.
(Econ. & Bus. Adm.), who was the full-time Chairman of the Board, has been
appointed the new Managing Director. 

After these changes are implemented, the Management Group will comprise Heikki
Vauhkonen, Managing Director, Ismo Mäkeläinen, Director of Production and
Purchasing, Anu Vauhkonen, Director of Domestic Sales and Marketing and Jouko
Toivanen, Director of Finance and Administration. Martti Purtola, Head of the
Sauna Business, and Michel Mercier, Export Director, who were also members of
the Management Group, will continue to work for the company. 

The above-mentioned changes will reduce annual management costs by
approximately EUR 0.6 million. The changes will result in a non-recurring cost
of approximately EUR 0.6 million during the third quarter. 

The primary task of the new Management Group is to implement the company's
major performance improvement programme. The goal of the programme is to boost
the annual operating result excluding non-recurring items by EUR 7 million by
the end of 2015. 

TULIKIVI CORPORATION

Board of Directors

Distribution: NASDAQ OMX Helsinki
Key media
www.tulikivi.com

Additional information: Tulikivi Corporation, FIN-83900 Juuka, www.tulikivi.com
- Heikki Vauhkonen, Managing Director, tel. +358 (0)207 636 555
- Harri Suutari, Chairman of the Board of Directors, tel. +358 (0)400 384 937