Pihlajalinna Oyj - Changes board/management/auditors

Pihlajalinna Plc:Pihlajalinna Plc strengthens management: Mikko Wirén nominated to the Chairman of the Board, Aarne Aktan appointed to CEO, Niclas Köhler to CFO

Pihlajalinna Plc, Stock Exchange Release 11 March 2016 at 8.00 (EET)

Pihlajalinna Plc strengthens management: Mikko Wirén nominated to the Chairman
of the Board, Aarne Aktan appointed to CEO, Niclas Köhler to CFO

Due to the strong growth of Pihlajalinna, the Board has wanted to further
strengthen the company management with new recruitments. Aarne Aktan has been
appointed as the CEO of Pihlajalinna Group and Niclas Köhler as the CFO. Aktan
will start in the position latest on 8 August 2016.

The largest shareholders who prepare the proposal of the Board composition and
who represent 37.9 per cent of the shares have notified the company that the
current CEO Mikko Wirén will be proposed to be elected a member of the board of
Pihlajalinna Plc in the next Annual General Meeting. His term is proposed to
commence when Aarne Aktan starts as CEO. The largest shareholders have notified
the company that the full proposal for the Board composition will be announced
later. The largest shareholders of the company are in favor of electing Mikko
Wirén as the Chairman of the Board of Directors from the beginning of his term.

Mikko Wirén: "Last financial year was so far the most significant in the company
history. The growth story of Pihlajalinna continues and I see many interesting
opportunities in the market. Now I can fully focus on growing the company
business.  Aarne Aktan has excellent track record of successful management of
the operative business. He knows the company well and both I and the board have
strong confidence in Aarne's capabilities."

Aarne Aktan has previously served as the CEO of Talentum Oyj in 2011-2016 and
continues as the CEO of Talentum Media Ab until the end of July 2016. Before
Talentum he was the entrepreneur and CEO of Quartal Oy 1997-2011. He has a
Bachelors' degree in Business Administration.

Aarne Aktan: "I'm excited about my new position. As a member of the board I've
had an opportunity to familiarize myself to Pihlajalinna operations and the
changing healthcare markets. Pihlajalinna has quickly risen to a significant
service provider in Finland. It is very interesting to be able to continue
cooperation with Mikko in this new role."

As part of the contract terms of the new CEO Pihlajalinna Plc Board decided of a
new long term share reward program for the years 2016-2018.

There are three earnings periods in the reward plan equivalent to the one full
calendar year each 1.1 - 31.12.2016, 1.1. - 31.12.2017 and 1.1. - 31.12.2018.
The earnings criteria of the share reward plan has been connected to the
profitability development of the company business operations. The amount of
possible share reward paid to the CEO is conditional to achieving the results
according to the earnings criteria.

The maximum total reward paid to the CEO consists of company shares and monetary
contribution. Based on the reward plan the CEO can be given as rewards maximum
of 37.500 shares (gross amount before applicable taxes).

Possible share reward will be paid after the earnings period (financial year)
financial statements have been confirmed in 2017, 2018 and 2019.

A transfer restriction is applied to the reward plan shares during a commitment
period. The commitment period begins when the reward is paid and ends after two
years of the reward payment date.

Member of the Board Aarne Aktan has resigned his membership in the company
nomination and remuneration committee.

Niclas Köhler has been appointed Chief Financial Officer of Pihlajalinna Group
and a member of the Group management team as of 1.3.2016. He is responsible for
managing the Group's financial administration function and developing its
processes. He has previously served as the CFO of Talentum Plc 2011-2016,
Finance and HR Director of OneMed Group 2007-2011 and Finance Director of Alma
Media Kauppalehti-group 2004-2007. Köhler has a Masters degree in Business
Administration.

Pihlajalinna group former CFO Virpi Holmqvist will concentrate to lead and
develop the group public outsourcings business. She will also continue as the
Managing Director of Jämsän Terveys Oy and as a member of the group management
team. Holmqvist has previously worked in various management positions in Attendo
in 2008 -2014 first as Finance Director and then Director of Outsourced Social
and Healthcare Services. Holmqvist has a Masters degree in Business
Administration.

PIHLAJALINNA Plc

Further information:

Mikko Wirén, toimitusjohtaja, Pihlajalinna Oyj, +358 50 322 0927

Aarne Aktan, +358 40 342 4440, available between 13.00-14.00 (EET) on Friday 11
March

Terhi Kivinen, SVP Communications, Marketing and IR, +358 40 8484001,
terhi.kivinen@pihlajalinna.fi

Distribution

Nasdaq Helsinki Oy

Key media

investors.pihlajalinna-konserni.fi








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