Stockmann Oyj Abp: Lauri Veijalainen appointed CEO of Stockmann

Regulatory News:

STOCKMANN plc, Changes board/management/auditors 12.9.2016 at 8:30 EET

Stockmann plc’s Board of Directors has appointed Lauri Veijalainen as Stockmann’s new Chief Executive Officer as of 12 September 2016. Lauri Veijalainen (born 1968), B.Sc., MBA, has served as Stockmann’s interim CEO since April 2016. Before that he was the company’s CFO from August 2015. He joined Stockmann in 2010 as Development Director for the Group’s International Operations.

"Stockmann is ready to continue the turnaround that is already visible in the Group’s financial performance. We have two successful and profitable divisions: Lindex and Real Estate. Now we will focus on improving the department store experience and the stores’ sales and profitability. After a thorough selection process, the Board of Directors concluded that Lauri Veijalainen has the best qualities for this position. He has versatile experience in the retail and real estate businesses, strong financial knowledge and he has over the past months proven his skills in carrying out major change projects at Stockmann. I am confident that Lauri is the right person to encourage personnel to achieve key goals,” says Jukka Hienonen, Chairman of the Board of Directors.

"With the trophy retail locations in Finland and the Baltics, a brand that evokes strong emotions, and a new clear focus, Stockmann has all prerequisites to return its department store operations back to profit by 2018. We want to further develop Stockmann’s department stores and the supporting online store to become a unique shopping destination for fashion, food, beauty, and home decoration. I am eager to take Stockmann further and rapid steps forward and to gain results as a team with my skilled colleagues,” says Lauri Veijalainen.

www.stockmanngroup.com

STOCKMANN plc

Jukka Hienonen
Chairman of the Board of Directors

Distribution:
Nasdaq Helsinki
Principal media

This information was brought to you by Cision http://news.cision.com

View source version on businesswire.com: http://www.businesswire.com/news/home/20160911005073/en/