Change in the YIT Management Team

YIT Corporation  Stock Exchange Release  20 May 2021 at 8:00 a.m.

Change in the YIT Management Team

YIT Corporation's Board of Directors has appointed Pasi Tolppanen (54, Ph.D., Engineering Geology) as the Executive Vice President of Infrastructure segment and a member of the Group Management Team. He shall take over his position latest at the beginning of September 2021.

Pasi Tolppanen is currently working as a CEO of DEN Group. Prior to his current position, he has worked as a CEO of Maintpartner Group and a President of Regional Operations Northern Europe of Pöyry Plc and Managing Director of Pöyry Finland Oy, among others. 

“Infrastructure construction has a significant role in YIT’s sustainable urban development strategy. We want to create more value by increasing the share of self-developed projects in our portfolio. Infrastructure segment plays an important role in these projects. However, the performance of the segment has been unsatisfactory. Pasi Tolppanen has an excellent experience in infrastructure industry and evidence in successful business management. I am confident that under his leadership, we will be able to speed up the Infra segment’s strategy sharpening, as well as develop our customer relationships, improve our competitiveness and grow profitable business. I warmly welcome Pasi Tolppanen to YIT”, says Markku Moilanen, President and CEO of YIT.

“Well-functioning infrastructure is the basis for all urban development. In addition, significant traffic projects will be launched shortly, and the energy market is undergoing strong change, driven by sustainable development. I’m excited to return back to my roots to lead YIT’s infrastructure construction business to the next level”, says Pasi Tolppanen.

Antti Inkilä will continue as the interim Executive Vice President of Infrastructure segment until the end of August, and thereafter, he will return to his position as the Executive Vice President, Housing Finland and CEE segment.

Additional information:
Markku Moilanen, President and CEO, YIT Corporation
Media inquiries via Group Communications, tel. +358 44 743 7536,  

Tommi Järvenpää
Vice President, Investor Relations

Distribution: Nasdaq Helsinki, major media,

YIT is the largest Finnish and a significant North European urban developer and construction company. Our goal is to create more sustainable, functional and attractive cities and living environments. We develop and build apartments, business premises and entire areas. We also specialise in demanding infrastructure construction. We own properties together with our partners, which supports the implementation of our significant development projects. We also provide our customers with services that increase the value of properties. We employ approximately 7,400 professionals in ten countries: Finland, Russia, Sweden, Norway, Estonia, Latvia, Lithuania, the Czech Republic, Slovakia and Poland. Our revenue in 2020 was approximately EUR 3.1 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy.