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Citycon Oyj Updates on Reorganization of Business Operations and Further Cost Reductions


Tuesday, 18 Dec 2012 09:20am EST 

Citycon Oyj announced that as per the notice dates December 12, 2012, regarding the Company's plans to reorganize its business operations, collaboration negotiations have commenced in the Finnish business operations. In addition, the Company is also streamlining its decision-making process in the Corporate Management Committee and implementing other cost cutting measures. Mr. Harri Holmstrom, Senior Vice President of Group Leasing and Baltic Countries and New Businesses, has been appointed Chief Operating Officer (COO) of Citycon Oyj. In his new role he will report to the Chief Executive Officer, Mr. Marcel Kokkeel. Mr. Holmstrom will be responsible for managing and streamlining the Company’s investment portfolio and driving the net operating income and asset value growth. Following his appointment, Mr. Mati Pops, Commercial Director of Baltic Operations, will continue to oversee Citycon Oyj's Baltic and Danish operations. Mr. Marko Juhokas, Senior Vice President of Finnish Operations, will continue in his position but no longer continue as Member of the Corporate Management Committee following the restructuring of the Committee. 

Company Quote

2.45
0.03 +1.24%
20 Oct 2014