SRV’s President and CEO leaves SRV

SRV GROUP PLC             INSIDE INFORMATION            13 MAY 2019    10.35 EET

SRV’s President and CEO leaves SRV

Juha Pekka Ojala, SRV Group Plc’s President and CEO, leaves SRV and SRV’s Board of Directors will start the process of recruiting a new CEO. Ojala, who has been the company’s President and CEO since 2015, continues in his position until the new President and CEO has been nominated. Ojala has held various management and subject matter expert positions in the company since 1997.

”Juha Pekka Ojala has been an inspiring and good leader who has significantly expanded the company's operations and created a good and enthusiastic atmosphere for the company. On behalf of the entire Board of Directors, I would like to thank Juha Pekka for his significant work for the company,” says Ilpo Kokkila, Chairman of the Board.

”SRV has a strong position as a developer of urban city centres and as a builder of complex projects. The company’s order backlog is strong and there are many interesting projects in progress. The higher-than-expected construction costs of the REDI shopping centre and continued geopolitical uncertainty in Russia have heavily burdened SRV. The company plans to stabilise its balance sheet position with a new hybrid bond of EUR 45-60 million, which, if realised, will allow the company to start a new phase. In line with its strategy, SRV's goal is to release large shopping centre projects from its balance sheet in the coming years, while at the same time increase new business based on its core competence. We are now seeking a new CEO to manage this phase and lead SRV's skilled personnel,” says Kokkila.

For further information, please contact:
Ilpo Kokkila, Chairman of the Board, Tel. [phone], [e-mail]

www.srv.fi

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SRV in brief
SRV is a bold developer and innovator in the construction industry. We want to offer the best customer experience as a constructor of urban city centres, while also being the most attractive employer in the industry. Our genuine cooperation and enthusiasm for our work comes across in every encounter. Sustainability is reflected in all our activities.

Established in 1987, we are a publicly listed company since 2007 in Helsinki Nasdaq stock exchange that operates in selected growth centres in Finland and Russia. Our revenue in 2018 was EUR 960 million. Over 1,000 people work for us and we employ a network of almost 4,000 subcontractors in our projects.

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