Exel Composites Oyj - Changes board/management/auditors

Exel Composites appoints Riku Kytömäki new President and CEO

EXEL COMPOSITES PLC     STOCK EXCHANGE RELEASE         16.9.2013 at 9.00

EXEL COMPOSITES APPOINTS RIKU KYTÖMÄKI NEW PRESIDENT AND CEO

The Board of Directors of Exel Composites Plc. has appointed Riku Kytömäki,
currently a Senior Vice President at ABB, as new President and CEO of Exel
Composites. He will assume his duties not later than 13 March 2014, and
succeeds Vesa Korpimies, who will resign from his position. Vesa Korpimies will
continue in his role as CEO until Riku Kytömäki takes up his position. 

“I joined Exel Composites in 1987 and have been the CEO during the last five
years. I have had the privilege to head the company into a leading position in
the pultrusion market. Today we are financially strong and are well poised for
international growth. This is the right time for me to hand over the company to
Riku Kytömäki. I will remain as CEO until Riku Kytömäki starts and continue to
support the company to ensure continuity in our key business initiatives”, says
Vesa Korpimies. 

“Exel Composites is today well positioned to enter into a new strategic phase
with accelerated international growth, as well as to further intensify the
rollout of the “ExelWay”, our operational platform. The Board and Vesa
Korpimies have agreed that he will step down from the position as CEO and hand
over to Riku Kytömäki. The Board extends its thanks to Vesa Korpimies for his
contributions to Exel Composites over the years. I sincerely thank him for his
loyalty and his dedicated efforts for the company”, says Peter Hofvenstam,
Chairman of the Exel Composites Board. 

Riku Kytömäki will join Exel Composites from ABB, where he has served as head
of ABB's Large AC Motor business worldwide since 2012. Riku Kytömäki has a
solid industrial background. He has many years of experience from various
international positions within ABB, among others President for ABB Electrical
Machines Ltd in China, Global Operations Manager for Business Unit Motors &
Generators, and Global Product Group Manager for ABB Wind Power Generators. He
was born in 1971 and holds an M.Sc in Electrical Engineering. 

“Exel Composites is an exciting technology company with a strong position in
the composite industry. I look forward to leading Exel Composites and taking
part in realizing its large potential”, says Riku Kytömäki. 

“Riku Kytömäki's strategic skills, his leadership capabilities and his proven
industrial track record from international operations constitute an excellent
background to further develop Exel Composites' global business and to drive
profitable growth”, says Peter Hofvenstam. 



Vantaa, 16 September 2013


EXEL COMPOSITES PLC

Board of Directors



For further information, please contact:
Peter Hofvenstam, Chairman of the Board of Exel Composites Plc., tel. +46 8 788
50 00, or email peter.hofvenstam@nordstjernan.se 
Vesa Korpimies, President and CEO, tel. +358 50 590 6754, or email
vesa.korpimies@exelcomposites.com 



DISTRIBUTION
NASDAQ OMX Helsinki Ltd.
Main news media
www.exelcomposites.com



EXEL COMPOSITES IN BRIEF

Exel Composites (www.exelcomposites.com) is a technology company which designs,
manufactures and markets composite profiles and tubes for industrial
applications. The Group is the leading composite profile manufacturer in the
world and concentrates on growing niche segments. 

The core of the operations is based on own, internally developed composite
technology, product range based on it and a strong market position in selected
segments with a strong quality and brand image. Profitable growth is pursued by
a relentless search for new applications and development in co-operation with
customers. The personnel's expertise and high level of technology play a major
role in Exel Composites' operations. 

Exel Composites Plc. share is listed in the Small Cap segment of NASDAQ OMX
Helsinki Ltd.