YIT - Company Announcement

YIT Corporation to change its segment structure and the composition of the Group Management Board

Helsinki, Finland, 2014-10-30 07:10 CET (GLOBE NEWSWIRE) -- YIT CORPORATION    
              STOCK EXCHANGE RELEASE  OCTOBER 30, 2014 AT 8:10 A.M. 



YIT Corporation to change its segment structure and the composition of the
Group Management Board 



YIT Corporation will change its segment structure and the composition of the
Group Management Board as of the beginning of 2015.  The objective of the
change is to streamline the structure. 

The current Housing segment will be split into Housing Finland and CEE and
Housing Russia segments. The Housing Finland and CEE segment will be equivalent
to the former Housing Finland, the Baltic countries and Central Eastern Europe
business area. The Business Premises and Infrastructure segment will remain as
before. 

YIT's three reporting segments as of January 1, 2015 will be:

  -- Housing Finland and CEE
  -- Housing Russia
  -- Business Premises and Infrastructure

Reporting under the new segment structure will begin from the January-March
2015 interim report, which will be published on April 28, 2015. The 2014
comparison figures for the new segment structure will be published in March
2015. 

In connection with the change in the segment structure, Teemu Helppolainen,
M.Sc. (Econ.), is appointed Head of the Housing Russia segment. He has
previously been responsible for the corresponding business area. Antti Inkilä,
M.Sc. (Tech.), is appointed Head of the Housing Finland and CEE segment. He has
worked in various positions at YIT, with the most recent being Head of the
Apartment Houses Metropolitan Area unit in Finland. 

As of January 1, 2015, the Group Management Board will consist of YIT
Corporation's President and CEO Kari Kauniskangas, YIT Corporation's Executive
Vice President and Head of the Business Premises and Infrastructure segment
Tero Kiviniemi, Head of the Housing Russia segment Teemu Helppolainen, Chief
Financial Officer Timo Lehtinen, Senior Vice President, Human Resources Pii
Raulo, Senior Vice President, Business Development Juhani Nummi and as a new
member Head of the Housing Finland and CEE segment Antti Inkilä. The Extended
Group Management Board will include the Heads of business divisions Kari
Alavillamo, Jouni Forsman, Harri Isoviita, Pavel Kocherezkin, Matti Koskela,
Timo Lehmus, Tom Sandvik and Mikhail Voziyanov, in addition to the members of
the Group Management Board. 



For additional information, please contact:



Kari Kauniskangas, CEO, YIT Corporation, +358 40 570 1313
kari.kauniskangas@yit.fi 

Sanna Kaje, Vice President, Investor Relations, YIT Corporation, +358 50 390
6750, sanna.kaje@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 for 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
caring for our customers, partners and personnel. We have more than 6,000
employees in seven countries. In 2013, our revenue amounted to nearly EUR 1.9
billion. Our share is listed on Nasdaq OMX Helsinki. www.yitgroup.com