Caverion Corporation and its President and CEO Fredrik Strand have jointly agreed that Fredrik Strand will discontinue his duties as President and CEO of Caverion Corporation immediately. Fredrik Strand has served as President and CEO of Caverion Corporation since April 2014.
The Board of Directors of Caverion Corporation will immediately initiate the application process for a new President and CEO.
Vice President, Group Strategy and M&A Sakari Toikkanen will temporarily assume the position of President and CEO as of May 17, 2016 until further notice.
Ari Lehtoranta, Chairman of the Board of Directors of Caverion Corporation:
“Fredrik Strand has been leading Caverion for two years, during which the strategy has been implemented consistently. The organisation has been strengthened and the investments have been made to develop and harmonise the company’s operational model, processes and systems. Profitability has been developed under the management of Fredrik Strand, but not enough.
Caverion continues the strategy implementation and the company’s development by taking the client needs and the digitalisation of the operating environment into account. It is essential that the investments made have a favourable effect on the company’s results. The employees have a significant role in this.”
The CV and the photo of Sakari Toikkanen are available on Caverion's website at www.caverion.com.
The Board of Directors
Caverion will arrange a conference call for analysts, investors and media on May 17, 2016, at 11:00 a.m. (Finnish Time, EEST). The call can be accessed by calling +44(0)20 3427 1918. Participant code for the conference call is “7427755 / Caverion”.
Distribution: Nasdaq Helsinki, principal media, www.caverion.com