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Sponda revises its organisational structure and makes changes to its Executive Board

Sponda revises its organisational structure and makes changes to its Executive Board

Sponda Plc Stock exchange release 21 November 2016 at 9:00 a.m.

Sponda revises its organisational structure and makes changes to its Executive Board

Sponda will revise its organisational structure and make changes to its Executive Board effective from 1 January 2017.

Sponda has been simplifying its property portfolio since 2013 and the company is now focused on office and shopping centre properties in Helsinki and Tampere. Property divestments and acquisitions play an important role in the implementation of Sponda’s strategy. The new organisational structure is a result of the strategy execution and better corresponds to the company’s current business.

NEW BUSINESS UNITS

The new organisation consists of four business units:

Office Properties
Shopping Centres
Property Development
Property Investments

Newly established with the aim of enhancing the existing property portfolio, the Property Investments unit will be responsible for property divestments and acquisitions as well as investments in properties and property maintenance.

REPORTING SEGMENTS

The changes to the organisational structure will also lead to changes in financial reporting. Going forward, the reporting segments will be:

Office Properties
Shopping Centres
Property Development
Non-Strategic Holdings
Other

The Non-Strategic Holdings segment includes the remaining logistics properties, properties in Russia and the current Property Investment Companies segment. Sirpa Sara-aho will remain in charge of Russian property assets.

The Other segment includes expenses not allocated to any of the Group’s businesses.

The first report to use the new reporting structure will be the interim report for January-March, which will be published on 5 May 2017. The segments’ comparison data will be published before the interim report.

EXECUTIVE BOARD APPOINTMENTS

Joona Reunanen, 37, has been appointed Senior Vice President, Office Properties, starting from 1 January 2017. Reunanen is currently the Regional Manager for office properties in Helsinki’s central business district. He has worked at Sponda for nine years.

Henrik Stadigh, 33, has been appointed Senior Vice President, Shopping Centres, starting from 1 January 2017. Stadigh is currently the Director of the Shopping Centres segment. He has worked at Sponda for nine years.

The Senior Vice President in charge of the Property Investments business unit will be Ossi Hynynen, who currently heads the Investment Properties unit.

SPONDA’S EXECUTIVE BOARD FROM 1 JANUARY 2017

Kari Inkinen, President and CEO
Pia Arrhenius, Senior Vice President, Corporate Planning and IR
Ossi Hynynen, CIO
Niklas Nylander, CFO
Joona Reunanen, Senior Vice President, Office Properties
Henrik Stadigh, Senior Vice President, Shopping Centres
Veli-Pekka Tanhuanpää, Senior Vice President, Property Development

All members of the Executive Board report to President and CEO Kari Inkinen.

Sponda Plc

Additional information: Kari Inkinen, President and CEO, tel. +358 400 402 653

Sponda Plc is a property investment company specialising in commercial properties in the largest cities in Finland. Sponda’s business concept is to own, lease and develop retail and office properties and shopping centres into environments that promote the business success of its clients. The fair value of Sponda’s investment properties is approximately EUR 3.7 billion and the leasable area is around 1.2 million m².