YIT Corporation appoints Heikki Vuorenmaa as President and CEO

YIT Corporation Inside information 2 November 2022 at 09:02 a.m.

Heikki Vuorenmaa
Heikki Vuorenmaa

YIT Corporation appoints Heikki Vuorenmaa as President and CEO

The Board of Directors of YIT Corporation has appointed Heikki Vuorenmaa (M.Sc. Econ.) to the position of President and CEO effective 1 December 2022 at the latest. Markku Moilanen will step down from his current position as President and CEO by the end of November and continue as Senior Advisor until the end of the year.

“Since our strategy launch a year ago, we have tightened our business focus, improved operational productivity and developed our business model towards more independent business segments. Our Housing segment has continued to deliver solid results, and the transformation of the Business Premises, Infrastructure and Property Development segments is progressing well. I would like to thank Markku Moilanen for initiating and effectively leading the first phase of the transformation process”, says Harri-Pekka Kaukonen, Chairman of the Board, YIT Corporation.

“However, increasingly challenging market conditions are pushing us to accelerate strategy implementation and speed up performance improvements. The time has now come to create a step change in both the speed and scale of transformation in all our business segments”, says Kaukonen.

Heikki Vuorenmaa has strong experience in leading demanding, international procurement and supply chain organizations in the technology and construction sectors. He has worked at YIT as Executive Vice President, Paving and a member of the Group Management Team during 2017–2020. He works currently at McKinsey & Company as Associate Partner, Transformations.

“Heikki has a proven track record with respect to transformation and productivity improvements, which is critical for us now and in the near future. We warmly welcome Heikki back to YIT”, says Kaukonen.

“I’m excited to take on the CEO role and continue to build strong relationships with our customers and partners. From my experience, I know that YIT has lots of talented people and strengths as a market leader, and I see many opportunities to accelerate the strategy implementation together with all employees. I look forward to starting this work and defining our priorities together with the team”, says Heikki Vuorenmaa.

CV Heikki Vuorenmaa

Born 1981
M.Sc. (Econ.)

Primary work experience:

McKinsey & Company: SVP, Associate Partner, Transformation 2021–2022
Peab: Head of integration, Business Area Industry, 2020
YIT Corporation/Lemminkäinen Corporation: EVP, Paving 2017–2020
Lemminkäinen Corporation: SVP, Head of Procurement 2015–2017
Nokia Corporation: various positions in Operations 2008–2015

Further information:    

Harri-Pekka Kaukonen, Chairman of the Board of Directors, YIT Corporation
Maija Taimi, SVP, Communications, YIT Corporation, tel. +358 50 487 1561, maija.taimi@yit.fi

YIT Corporation

Tuomas Mäkipeska

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com

YIT is the largest Finnish and a significant North European development and construction company. For 110 years, we have been creating better living environments for our customers: functional homes for sustainable living, future-proof public and commercial buildings and infrastructure for smoother flow of people, businesses and society. We employ 5,500 professionals in nine countries: Finland, Sweden, Norway, Estonia, Latvia, Lithuania, the Czech Republic, Slovakia and Poland. Our revenue in 2021 was EUR 2.7 billion. YIT Corporation’s share is listed on Nasdaq Helsinki Oy. www.yitgroup.com