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2010-03-15 13:00:00 CET 2010-03-15 13:00:02 CET REGULATED INFORMATION Efore - Changes board/management/auditorsVESA VÄHÄMÖTTÖNEN APPOINTED NEW PRESIDENT AND CEO OF EFORE PLC AS FROM JUNE 1, 2010EFORE PLC Stock Exchange Release March 15, 2010 at 2.00 p.m. Vesa Vähämöttönen (Tech.Lic), has been appointed President and CEO of Efore Plc. Mr Vesa Vähämöttönen,(b. 1966) will take on the duties of President and CEO on June 1, 2010. Reijo Mäihäniemi, Efore's present President and CEO will leave his position on May 31, 2010 and will continue to serve the company as Senior Adviser to Board of Directors and the CEO in corporate development issues during a period of transition. Vesa Vähämöttönen will join Efore from Liteonmobile (ex Perlos) where he acted as Senior Vice President, Sales and Marketing and was responsible for global sales, marketing and customer relationships in 2006 - 2010. Prior to this Vesa Vähämöttönen acted as Managing Director of Flextronics ODM Finland and in 1999 - 2004 he acted e.g. as General Manager, Europe in Filtronic Comtek. He has a total of over 10 years of experience in operative business management in the industrial sectors of electronics. "Efore's Board wishes to thank Reijo Mäihäniemi for his work and achievements in Efore. Under his leadership the remarkable restructuring work has been carried out and as a result of that focal point of Efore business has been increasingly moved to Asia. At the same time it has been created a firm basis for the company to implement its strategy. Vesa Vähämöttönen's wide experience in electronics business and in successful business management provide an excellent premise for further development of the company." says Isto Hantila, Chairman of the Efore Board of Directors. "Primary changes related to the globalization of the company have been made and despite of the difficult market situation the demand has started to grow. So for Efore the future looks bright. A solid basis for the growth of the company has been built so the time is right for transferring CEO duties to a successor with substantial international experience and for my gradual retirement " says Reijo Mäihäniemi, President and CEO of Efore Plc. EFORE PLC Board of Directors Additional information available from Isto Hantila, Chairman of the Board, tel. + 358 50 4060 656 and Reijo Mäihäniemi, President and CEO, tel. + 358 9 4784 6312 DISTRIBUTION Nasdaq OMX Helsinki Principal media Efore Group Efore Group is an international company providing services for ICT and industrial electronics. Its operations comprise energy saving custom-designed power supplies, power systems, manufacturing of demanding electronics, and related service and maintenance. Efore's head office is in Espoo, Finland. Besides Finland, the company's product development and marketing units are located in China, the USA and Sweden. Its production units are located in China and Estonia. In the fiscal year ending in October 2009, consolidated net sales totaled EUR 64.1 million and the Group's personnel averaged 565. The company's share is quoted on the Nasdaq OMX Helsinki Ltd. www.efore.com |
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