YIT - Company Announcement

YIT Corporation’s Board of Directors decided the composition of its committees

Helsinki, Finland, 2015-03-18 12:15 CET (GLOBE NEWSWIRE) -- YIT CORPORATION    
         STOCK EXCHANGE RELEASE        MARCH 18, 2015 AT 1:15 P.M. 



YIT Corporation's Board of Directors decided the composition of its committees

YIT Corporation's Board of Directors held its organizational meeting on March
18, 2015. In the meeting the Board decided on the composition of the Personnel
Committee and the Audit Committee. 

From among its number, the Board elected Reino Hanhinen as chairman and Kim
Gran and Erkki Järvinen as members of the Personnel Committee. The task of the
Personnel Committee is to assist the Board of Directors in issues related to
the nomination and remuneration of key personnel within YIT Group. Among other
things, the Personnel Committee participates in the development of the Group's
corporate culture and HR policy and the preparation of the remuneration and
incentive schemes, the rules for performance-based bonuses and the proposals
for performance-based bonuses paid to the management. The Committee's tasks
furthermore include the identification of talent, the development of key
personnel and management's succession planning. 

From among its number, the Board elected Teuvo Salminen as chairman and Satu
Huber and Juhani Pitkäkoski as members of the Audit Committee. The Audit
Committee assists the Board of Directors in the supervision of the Group's
accounting and reporting processes. It is tasked with, for instance, overseeing
the company's financial reporting process, the effectiveness of internal
control, internal auditing and risk management systems, and with evaluating the
audit. The Committee participates in the preparation of the Group's financing
policy, financing plan and financing arrangements. Among other things, the
Committee reviews the company's financial statements and interim reports, and
monitors auditing. It evaluates compliance with laws and regulations and
follows the Group's financial position. 

Recommendation 26 (Independence of the members of the audit committee) of the
Finnish Corporate Governance Code was deviated from in the election of the
members of the company's Audit Committee, when Juhani Pitkäkoski, who is not
independent of the company, was elected as a member of the Audit Committee.
Pitkäkoski was elected as a member of the Audit Committee due to his extensive
knowledge of the company's business and finances as well as management,
supervision and control systems as the company's former CEO. 



For additional information, please contact:

Kari Kauniskangas, President and CEO, YIT Corporation,
tel. +358 40 570 1313, kari.kauniskangas@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 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
taking care of our customers, partners and personnel. We have nearly 6,000
employees in seven countries. In 2014, our revenue amounted to around EUR 1.8
billion. Our share is listed on NASDAQ OMX Helsinki. www.yitgroup.com