TietoEnator names Pentti Heikkinen president and CEO

Source: TietoEnator

TietoEnator's Board of Directors has appointed Pentti Heikkinen as the Group's President and CEO effective 1 January 2006.

Mr Heikkinen has been the Chief Operating Officer and Chairman of the Operative Management Team of TietoEnator since the beginning of 2004. In the same meeting the Board of Directors elected Matti Lehti, TietoEnator's long-term President and CEO and a member of the Board, as its Chairman, also effective 1 January 2006. The composition of the Board's Committees remains unchanged.

Pentti Heikkinen (45 years old) was born in Juankoski, Finland, and holds an MSc degree in Economics. Mr Heikkinen joined TietoEnator in 1996. During the years 1996-2003 he held the position of president in three different business areas, most recently Telecom & Media in 2001-2003.

Mr Lehti (58 years old) has been TietoEnator's President and CEO since 1989. He will continue his contract of service with TietoEnator until he reaches his retirement age, 60 years, in June 2007.

In conjunction with the change in top management positions, the Executive Committee of TietoEnator will be dissolved. Åke Plyhm will continue in his existing role as the deputy to the President and CEO. Senior Executive Vice President, Strategic Business Development, Veli Pohjolainen will retire after 30 years of meritorious service to the company, ten years of which as the President of the current Banking & Insurance business area. The Chief Operating Officer's position will not be filled.

"TietoEnator's Board of Directors has recorded special thanks to Matti Lehti for his extremely successful performance as CEO during the long period of significant growth and major changes in the company. I am glad of his availability to support TietoEnator as the company continues and renews its fine track record in the demanding time that lies ahead. We are convinced that Pentti Heikkinen will be the best possible driver of this challenging task, supported by his already well-established management team and the dedicated personnel of the company," says Kalevi Kontinen, Chairman of the Board and Chairman of the Compensation and Nomination Committee of TietoEnator.

"The Board's decision represents well managed generation shift within a company with a very strong corporate culture and tradition of high performance. The new and younger corporate management team led by Pentti Heikkinen is excellently qualified to take the company to the next level in performance and internationalization," says Matti Lehti.

"I am excited about taking over the position of CEO in TietoEnator. We have an excellent team of 15 000 people who are committed to making TietoEnator's global vision come true. It has been a pleasure to collaborate with Matti Lehti for the past 10 years, which enables me to continue the determined execution of TietoEnator's strategy from day one in my new position," says Pentti Heikkinen.

The Compensation and Nomination Committee of the Board of Directors intends to propose to TietoEnator's Annual General Meeting in March 2006 that the existing composition of the Board will continue for the term until the Annual General Meeting in 2007. All Board members have indicated their consent to be re-elected.

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