Changes in Caverion’s Group Management Board and organisation structure

Changes in Caverion’s Group Management Board and organisation structure

The following changes in Caverion’s Group Management Board and organisation structure will take place.

New Head for division Sweden 

Juha Mennander, current Head of Group Market Operations, will be appointed as the Head of division Sweden as of 1 June 2018. Juha has extensive general management experience in a related industry and a proven track record for delivering profitable growth. Juha will also act as the Head of Group Market Operations until further notice.

Klas Tocklin, the current Head of division Sweden, will assume the position of Head of Managed Services (MSO) and Key Accounts in Sweden and will report to Juha Mennander.

Ari Lehtoranta, President and CEO of Caverion Corporation comments: “Klas has made a great effort in Sweden to manage the Fit phase of our strategy. As we are now starting to see the first signs of improved results, we are gradually starting to prepare ourselves for the Growth phase of our strategy. The growth in Sweden will be driven mostly by Managed Services (MSO) and Key Accounts.”

New Head for Projects Business Unit

Michael Kaiser, M.Sc. (Eng.), born 1962, will be appointed as the Head of Caverion Projects Business Unit as of 1 June 2018. Michael Kaiser has an extensive, 30-year background in projects. He joins us from Thyssenkrupp Industrial Solutions where his latest position has been Executive Vice President, responsible for the USA and North America. Before that Michael Kaiser has worked in leading positions in various other countries, latest in Brazil. Michael Kaiser has studied Electrical Engineering at the University of Wuppertal and South Westphalia University of Applied Sciences, Germany. Michael Kaiser will report to Ari Lehtoranta, President and CEO of Caverion Group and will also be a member of the Group Management Board.

Jarno Hacklin, present Head of Projects Business Unit will continue as VP, Project Management and Execution Development in the global Projects business unit and report to Michael Kaiser. “Jarno has done good work in stabilising our project business and the team is now even stronger to further improve our project business performance,” says Ari Lehtoranta.

Reorganisation in Eastern European operations

In order to focus and simplify Caverion’s management structure, Caverion has decided to reorganise its Eastern European operations. Going forward, Niclas Sacklén, currently the Head of division Eastern Europe, will be responsible for Caverion’s Russian and Polish operations and report to Group CEO as a special assignment. Niclas Sacklén will leave the Group Management Board as of 1 July 2018. Caverion’s Baltic operations will be integrated into division Finland and they will report to Ville Tamminen, Head of division Finland. Going forward, division Finland will be called Finland and Baltics. The financial reporting of Russia, Poland and Baltics will continue under “Eastern Europe” until the end of 2018.

“With these changes we prepare ourselves for completing our “Fit” phase and start moving gradually to “Growth” phase. Niclas, Klas and Jarno have done great work related to our turnaround and I would like to thank them for their efforts. At the same time I welcome Michael to Caverion and wish everyone success in their new roles,” says Ari Lehtoranta.

The CV’s and photos of Juha Mennander and Michael Kaiser are available on Caverion’s website at www.caverion.com/investors/corporate-governance/management-board

Attachment: Caverion Organisation as of 1 July 2018

CAVERION CORPORATION

Distribution: Nasdaq Helsinki, key media, www.caverion.com

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