YIT to introduce a new management structure in Russian construction operations

PRESS RELEASE January 26, 2009 at 9:00

YIT to introduce a new management structure in Russian construction operations

The management structure of the Russian operations of the YIT International Construction Services will change. The change will streamline the organisation according to the requirements of the current market conditions.

In future, the General Directors of the major Russian subsidiaries, YIT Lentek that operates in St Petersburg and Kazan and YIT Moskovia that operates in Moscow region, will report directly to the head of the business segment.

At the same time, other construction companies operating in Russia will be grouped into a separate Division, with the Boards of Directors of these companies chaired by Division Manager Teemu Helppolainen. He reports to the head of the business segment.

General Director of YIT Lentek changes in St Petersburg

Mikhail Voziyanov has been nominated as General Director of YIT Lentek, effective from 26 January 2009. Voziyanov has previously headed the strategy development, investments and project development operations of RBI Holding. He also was a member of the company's Board of Directors and, previously, the head of sales and marketing.

Voziyanov's predecessor at Lentek, General Director Juha Vättö, will resign from YIT in May 2009. Juha Vättö has successfully worked at YIT Lentek for 20 years, taking it from a small contracting company to one of the largest residential and building developers in St. Petersburg.

For more information, please contact: Kari Kauniskangas, Head of International Construction Services business segment, +358 40 5190198, kari.kauniskangas@yit.fi


Veikko Myllyperkiö Senior Vice President, Corporate Communications

Distribution: principal media, www.yitgroup.com