Caverion Oyj - Changes board/management/auditors

Fredrik Strand will be appointed as President and CEO of Caverion Corporation

Helsinki, Finland, 2014-01-20 08:00 CET (GLOBE NEWSWIRE) -- 


CAVERION CORPORATION    STOCK EXCHANGE RELEASE    JANUARY 20, 2014 AT 9:00 EET


Fredrik Strand will be appointed as President and CEO of Caverion Corporation



Caverion's Board of Directors has chosen Fredrik Strand (49) as Caverion's
President and Chief Executive Officer. He will take up the new position during
Q2, 2014. Currently, Fredrik Strand works as President and CEO at Sodexo, being
responsible for the company's Nordic businesses. 

Swedish citizen Fredrik Strand has worked in his current position since 2009.
Between 1989 and 2009 he worked at Ericsson in several leadership positions.
During this period he led e.g. Ericsson's global service delivery operations
and its development. He has also been responsible for the company's service
business in Latin America and the United States. 

Caverion's current President and CEO Juhani Pitkäkoski will continue in his
position until Fredrik Strand will take up the position. After that Pitkäkoski
will support onboarding of the new CEO and will enhance development of
Caverion's strategic growth process, reporting to Fredrik Strand. 

”Juhani Pitkäkoski has been a part of a team that built up YIT's Building
Services business since the very beginning. This business has grown from the
volume of EUR 500 million in year 2000 to today's Caverion. I thank Juhani for
his great work for bringing the Caverion business to this point. Now it is time
to invest in new forces to strengthen the implementation of the listing targets
of Caverion defined in the Demerger Plan of YIT: ‘The demerger will clarify the
business structures, financing and management, support the growth strategies of
the businesses, and thus strengthen the conditions for shareholder value
creation.' Fredrik Strand has been chosen to execute the new strategy of
Caverion because of his global experience, which includes both utilization of
technologies and leading of service business,” says Henrik Ehrnrooth, Chairman
of the Board of Directors. 

“I am very excited to take on the role of CEO of Caverion Corporation. I have
been very privileged to work 20 years for Ericsson, where I have held several
leadership positions within Global Services and the last five years as a leader
of Sodexo in the Nordic markets. I believe Caverion has unique opportunities to
be a forerunner in the Building Services markets in the future. This is due to
the advanced industry knowledge and skilled people within Caverion combined
with the possibilities presented in the digital, ‘always connected' world,”
states Fredrik Strand. 

The CV and the photo of Fredrik Strand are available on Caverion's website at
www.caverion.com. 

CAVERION CORPORATION

Board of Directors

For additional information, please contact:

Henrik Ehrnrooth, Chairman of the Board of Directors, Caverion Corporation
Contacts via Päivi Alakuijala, VP Marketing and Communications, Caverion
Corporation, tel. + 358 40 8400 251 

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

Caverion designs, builds and maintains user-friendly and energy-efficient
building systems and offers industrial services. Our services are used in
offices and retail properties, housing, public premises and industrial plants,
among other places. We aim to be the number one building systems company in
Europe. Our strengths include technological competence and customer-oriented
service, covering all building systems throughout the life cycle of the
property. Caverion was established through the demerger of Building Services
and Industrial Services businesses from YIT Group on June 30, 2013. Our revenue
for 2012 amounted to approximately EUR 2.8 billion. Caverion has over 18,000
employees in 13 countries in Northern and Central Europe. The company's shares
are listed on the NASDAQ OMX Helsinki. www.caverion.com