YIT - Changes board/management/auditors

YIT Corporation to change its segment structure and the composition of the Group Management Board

Helsinki, Finland, 2013-12-18 14:00 CET (GLOBE NEWSWIRE) -- YIT CORPORATION    
              STOCK EXCHANGE RELEASE  DECEMBER 18, 2013 AT 3:00 PM 



YIT CORPORATION TO CHANGE ITS SEGMENT STRUCTURE AND THE COMPOSITION OF THE
GROUP MANAGEMENT BOARD 



YIT Corporation will change its segment structure and the composition of the
Group Management Board as of the beginning of 2014. 

YIT's current geographical segment structure will be replaced to better match
the company's new management structure and business areas. As of January 1,
2014, YIT's two reporting segments will be “Housing” and “Business Premises and
Infrastructure”. Under the Housing segment, key financial figures such as
revenue, operating profit and invested capital will also be reported for two
geographical regions: 1) Finland, the Baltic countries and Central Eastern
Europe, and 2) Russia. The Business Premises and Infrastructure segment
comprises business premises construction in Finland, the Baltic countries and
Central Eastern Europe, as well as infra services in Finland. Reporting under
the new segment structure will begin from the January-March 2014 interim
report, which will be published on April 25, 2014. The 2013 comparison figures
for the new segment structure will be published in March 2014. 

The composition of YIT's Group Management Board will be condensed to match the
new management structure. Going forward, the Group Management Board will
consist of YIT Corporation's President and CEO and Head of the Housing segment
Kari Kauniskangas, YIT Corporation's Executive Vice President and Head of the
Business Premises and Infrastructure segment Tero Kiviniemi, Head of business
area Russia Teemu Helppolainen, Chief Financial Officer Timo Lehtinen, Senior
Vice President, Human Resources Pii Raulo and Senior Vice President, Business
Development Juhani Nummi. The Extended Group Management Board will include the
Heads of business divisions Yuri Belomestnov, Jouni Forsman, Harri Isoviita,
Matti Koskela, Timo Lehmus, Tom Sandvik and Mikhail Voziyanov, in addition to
the members of the Group Management Board. 

The objective of the new management structure is to strengthen the development
of YIT's strategic focus areas and support growth in the company's
own-developed projects, particularly in emerging markets. The changes are aimed
at facilitating the effective implementation of the company's strategy as well
as an increasingly customer-focused operating model. 

For additional information, please contact:

Kari Kauniskangas, CEO, YIT Corporation, +358 40 570 1313,
kari.kauniskangas@yit.fi 

Sanna Kaje, Vice President, Investor Relations, YIT Corporation, +358 50 390
6750, sanna.kaje@yit.fi 


YIT CORPORATION

Sanna Kaje
Vice President, Investor Relations



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



YIT is a construction industry leader. We create better living environments in
Finland, Russia, the Baltic countries, the Czech Republic and Slovakia. Over
100 years of experience have secured for us a strong market position: We are
the largest housing developer and one of the largest business premises and
infrastructure developers in Finland, and the most significant foreign housing
and area developer in Russia.  Our vision is to stay one step ahead - while
caring for our customers, partners and personnel. We have more than 6,000
employees in seven countries. In 2012, our revenue amounted to approximately
EUR 2 billion. Our share is listed on Nasdaq OMX Helsinki. www.yitgroup.com