Marimekko - Changes board/management/auditors

TIINA ALAHUHTA-KASKO IS APPOINTED AS PRESIDENT OF MARIMEKKO – MIKA IHAMUOTILA CONTINUES AS CEO AND IS AVAILABLE FOR ELECTION AS CHAIRMAN OF THE BOARD

Marimekko Corporation, Stock Exchange Release, 12 February 2015 at 8.30

TIINA ALAHUHTA-KASKO IS APPOINTED AS PRESIDENT OF MARIMEKKO - MIKA IHAMUOTILA
CONTINUES AS CEO AND IS AVAILABLE FOR ELECTION AS CHAIRMAN OF THE BOARD 

Mr Pekka Lundmark, the Chairman of the Board of Directors of Marimekko
Corporation since 2008, has informed the company that he will no longer be
available for re-election in Marimekko's Board at the Annual General Meeting of
Shareholders to be held on 9 April 2015. In connection with this, Mr Mika
Ihamuotila, the current President and CEO and Vice Chairman of the Board, has
announced that he will be available for election as the Chairman of the Board
and that he will step down from his position as the President of Marimekko. 

On 11 February 2015, the Board of Directors of Marimekko resolved to appoint Ms
Tiina Alahuhta-Kasko (b. 1981) as the new President of Marimekko. She has acted
as the Chief Operating Officer (COO) of Marimekko since 2014 and has also since
2011 held the position of Chief Marketing Officer (CMO) and been a member of
Marimekko's Management Group. Tiina Alahuhta-Kasko, M. Sc. (Econ.), CEMS MIM,
joined Marimekko in 2005. Following her new appointment, the tasks of COO will
be included in the duties of the President and hence a new COO will not be
appointed. The company has commenced a process to recruit a Marketing Director. 

The Board of Directors of Marimekko simultaneously decided on a full-time
executive service agreement with Mika Ihamuotila regarding his role as CEO. His
duties will include, e.g., responsibility for the development of Marimekko's
strategy and its implementation together with the President and the Management
Group, as well as an active senior role in managing the company's financial
affairs and stakeholder relations. Furthermore, Mika Ihamuotila will have a
senior role in developing leadership within the Marimekko Group. Ihamuotila's
executive agreement or his duties thereunder are not dependent on his position
as a member or Chairman of Marimekko's Board of Directors. 

Both appointments will enter into force on 9 April 2015 as of the close of the
Annual General Meeting of Shareholders. In the event that Mika Ihamuotila is
also elected the Chairman of the Board of Directors, his title and position
will be Chairman and CEO. 

Tiina Alahuhta-Kasko, as President, will act as the chairman of Marimekko's
Management Group as of 9 April 2015. The responsibilities of the members of the
Management Group will otherwise remain unchanged. To discuss significant
strategic matters, the Management Group will convene under the chairmanship of
the CEO at regular intervals. 

As part of revising Marimekko's governance structure, the Board of Directors
has resolved that an Audit and Remuneration Committee will be established. All
members of the committee will be independent of Marimekko and its major
shareholders. The first Audit and Remuneration Committee will be elected from
among its members by the new Board of Directors elected by the Annual General
Meeting of Shareholders to be held on 9 April 2015. In addition to tasks
typically assigned to audit and remuneration committees and supervision, the
Audit and Remuneration Committee will handle and prepare matters relating to
the terms and remuneration of Marimekko's executive management. 

”As her immediate superior, I have had the pleasure of following and supporting
the development of Tiina Alahuhta-Kasko as a Marimekko executive during the
past seven years. I am delighted that our new President comes from within the
company. In my view, Tiina Alahuhta-Kasko is a truly exceptional person and
leader: insightful, efficient, inspiring and fair-minded. I myself am committed
to continuing my work at Marimekko as a shareholder and in my new capacity and,
together with Tiina Alahuhta-Kasko, to making Marimekko into an even more
attractive, international and profitable design company,” says Mika Ihamuotila. "In my various roles over the last nearly ten years, I have had the chance to
see the opportunities for Marimekko around the world, from Asia to Australia
and North America. I would like to thank Mika Ihamuotila and Marimekko's Board
of Directors for the confidence they have placed in me; I cannot think of a
more inspiring challenge than taking Marimekko forward together with our
amazing staff. Our joint objective is to offer our customers even more
interesting products and experiences, and increase our profitability while
gaining a stronger foothold in the global market," says Tiina Alahuhta-Kasko. 

Further information
Please address requests for interviews to Annikka Itkonen, Communications
Manager, tel. +358 9 758 7220, annikka.itkonen@marimekko.com 

Photos: http://mediabank.marimekko.fi/?cart=8949-bghmhidmcl&l=EN


MARIMEKKO CORPORATION
Board of Directors

DISTRIBUTION:
NASDAQ OMX Helsinki Ltd
Key media

Marimekko is a Finnish design company renowned for its original prints and
colours. The company's product portfolio includes high-quality clothing, bags
and accessories as well as home décor items ranging from textiles to tableware.
When Marimekko was founded in 1951, its unparalleled printed fabrics gave it a
strong and unique identity. Marimekko products are sold in about 40 countries.
In 2014, brand sales of the products worldwide amounted to EUR 187 million and
the company's net sales were EUR 94 million. More than 140 Marimekko stores
serve customers around the globe. The key markets are Northern Europe, North
America and the Asia-Pacific region. The Group employs about 500 people. The
company's share is quoted on NASDAQ OMX Helsinki Ltd. www.marimekko.com