Board of Directors of Aspo's Telko to change

ASPO Plc            STOCK EXCHANGE RELEASE        February 28, 2017    at 11:15 a.m.


BOARD OF DIRECTORS OF ASPO'S TELKO TO CHANGE

The value of conglomerate Aspo comes from the profitability of the businesses it owns and from their valuation in their business fields. In order to develop each business owned by Aspo into the best company in their field, their Boards of Directors must consist of external members that support business management. The added value produced by the Boards of Directors of each business for management and business development ensures that these companies can develop in accordance with thoroughly planned targets.

"Aspo's strategic objective is to increase and internationalize the medium-large companies it owns, and to make structural changes whereby each business has an independent future separate from Aspo," says Aki Ojanen, CEO of Aspo Group.

Telko has grown strongly and its net sales reached a record level of EUR 240 million in 2016. In addition, Telko reached a new level of profitability as its operating profit stood at EUR 10 million. Telko's net sales and profitability growth is based on its long-term expansion in Russia, Ukraine and other CIS countries. Currently, this forms the largest market area for Telko. The company's positive profitability development is also based on its improved profitability in the western markets and its significant expanded customer base, for example, in Finland, Scandinavia and Poland.

Starting from March 1, 2017, the following members have been appointed to the Board of Directors of Telko, in addition to the chairman of the company's Board of Directors, CEO of Aspo Group:

Anders Dahlblom (M.Sc. (Econ.)) who works as the CFO of Paroc Group Oy. Anders has previously worked as a consultant at PwC.

Elina Piispanen (M.Sc. (Econ.)) who works as the Chief Transformation Officer at Sanoma Media Finland. Previously, she has worked as a partner at Accenture, being in charge of various management consulting and IT development areas. 

Irmeli Rytkönen (Master of Laws) who, since 1999, has successfully worked as CEO of Gigantti Oy Ab and, starting from 2014, as a member of the Board of Directors of XXL Sports and Outdoor Finland Oy Ab.

"This composition of the Board of Directors represents Telko's aim to grow and develop into the leading company within its field in Northern Europe and eastern markets. Such a varied composition also allows the Board of Directors to evaluate new success factors and to offer support to the acting management.

I would like to thank Kari Blomberg, Johan von Knorring and Timo Petäjä, who have been members of the Board of Directors since 2010, for their long-standing input on Telko's excellent development," says Aki Ojanen, chairman of the Board of Directors of Telko.

ASPO Plc

Aki Ojanen
CEO

For further information, please contact:
Aki Ojanen, CEO of Aspo Plc and chairman of the Board of Directors of Telko,
tel.: +358 9 521 4010, +358 400 106 592, aki.ojanen@aspo.com



DISTRIBUTION:               
Nasdaq Helsinki
Key media
www.aspo.fi