SATO Oyj - Changes board/management/auditors

Saku Sipola appointed President and CEO of SATO Corporation

Helsinki, Finland, 2015-06-24 14:00 CEST (GLOBE NEWSWIRE) -- SATO Corporation,
Company Announcement, 24th June 2015 at 15:00 

Saku Sipola, M.Sc. (Tech), aged 47, has been appointed new President and CEO of
SATO Corporation. He will take up the position later in the year on a date to
be announced. Current President and CEO Erkka Valkila will retire at the end of
the year. His employment was extended by two years in 2013 when he reached
contractual retirement age. 

Sipola comes to SATO from the position of CEO of Pohjolan Design-Talo Oy, where
he has served for some four years. Previously, he has also been director at
Rautaruukki Corporation and held management positions with YIT Group. 


Esa Lager, Chairman of the Board of SATO:

- Under Erkka Valkila, SATO has grown into a major housing investment company
while also delivering excellent financial performance. Going ahead, profitable
growth and improved customer experience will remain our goals. 

- Saku Sipola has solid management and leadership experience as well as a
proven track record of delivering results. I believe that SATO will further
solidify its standing as a leading housing investment company under the
leadership of Sipola in cooperation with our highly skilled staff. 


Saku Sipola:

- SATO is an outstanding company and the demand for its services is supported
by intense urbanisation. This provides the framework for sound financial
performance also in the future. I am excited at the chance to work together
with SATO employees and to take the company further in a rapidly evolving
environment. 


For more information please contact:
Esa Lager, Chairman of the Board, phone +358 40 506 5929
Saku Sipola, phone +358 40 551 5953


www.sato.fi

SATO is one of Finland's leading corporate investors in housing. SATO's aim is
to offer comprehensive alternatives in rental housing and an excellent customer
experience. All told, SATO holds roughly 24,200 rental homes in Finland's
largest growth centres and in St Petersburg. 

In our operations, we promote sustainable development and initiative-taking,
and work in open interaction with our stakeholders to create added value. We
operate profitably and with a long-term view. We increase the value of our
housing property through investments, divestments and repair work. 

SATO Group's net sales in 2014 were €312.3 million, operating profit €191.3
million and profit before taxes €152.2 million. SATO's investment properties
have a value of roughly €2.6 billion.

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