08/22/2017 - 19:00

CEO of Municipality Finance Plc to change - Executive Vice President Esa Kallio appointed as interim President and CEO

Municipality Finance Plc, Stock Exchange Release 22 August 2017 at 7:00 pm (EET)

CEO of Municipality Finance Plc to change - Executive Vice President Esa Kallio appointed as interim President and CEO

The Board of Directors of Municipality Finance Plc has agreed with CEO Pekka Averio that Averio will resign from his role as the company's CEO on 22 August 2017. Averio has acted as the CEO of Municipality Finance Plc since 1993.

 "Municipality Finance is in an excellent shape. Pekka Averio has had a central role in building the company, which has year after year been extremely profitable, also during the current year, says Helena Walldén," Chairperson of the Board of Directors.

"We are currently reviewing our long-term strategy and thus, this is an appropriate time for changing the company's CEO", Ms. Walldén notes. "We want to thank Pekka Averio for his significant and committed work at Municipality Finance," says Helena Walldén.

"I have had a unique opportunity to build Municipality Finance to the company it is at the moment. I have been able to work with top professionals, and want to thank all members of our staff and our partners for the great cooperation, and to wish them all the best possible success for the future", says Pekka Averio.

The Board will immediately start the recruitment process to select a new President and CEO for the company. The Board of Directors has appointed Executive Vice President, Deputy to the CEO Esa Kallio as an interim President and CEO. In addition to his role as the interim President and CEO, Mr. Kallio will continue to be responsible for his main area, international funding and treasury. Esa Kallio has worked with Municipality Finance Plc for 12 years.

Municipality Finance Plc

Helena Walldén

Chairperson of the Board of Directors

Additional information:

Please address any media inquiries to Municipality Finance Plc at tel. +358 50 3377 953 on 22 August 2017 at EET 7.30 - 8.30 pm.