TietoEnator banking and insurance president departs

TietoEnator banking and insurance president departs

Nordic IT services vendor TietoEnator says Matti Viljo, the president of its banking and insurance unit is leaving the company "by mutual agreement", along with group chief financial officer Timo Salmela.

Seppo Haapalainen has been named acting president for banking and insurance, while Monica Ek-Lindblom becomes interim group CFO until permanent replacements are found.

Viljo and Salmela appear to be the first casualties following the appointment of Hannu Syrjala as chief executive of TietoEnator, who formally started at the company on Friday.

Syrjala was brought in to replace Pentti Heikkinen who left TietoEnator in November following an 18-month run of volatile earnings at the company.

In January the vendor said it was embarking on a restructuring and cost cutting programme designed to generate annual savings of more than EUR100 million by the end of 2009. The company has been dogged by project over-runs at its banking and insurance and healthcare and welfare units which have impacted profitability.

The vendor later said that around 800 jobs - mainly in Finland and Sweden - are affected by the restructuring programme.

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