YIT Corporation restructures

YIT Corporation has announced it is changing its structure and the composition of its Group Management Board from 2015, in a bid to streamline its operations.

The current housing segment will be split into Housing Finland and CEE and Housing Russia segments. Its Housing Finland and CEE segment will be equivalent to the former Housing Finland, the Baltic countries and Central Eastern Europe business area. The Business Premises and Infrastructure segment will remain as before.

YIT’s three reporting segments as of January 1, 2015 will include Housing Finland and CEE, Housing Russia and Business Premises and Infrastructure.

Reporting under the new segment structure will begin from the January–March 2015 interim report, which will be published on April 28, 2015. The 2014 comparison figures for the new segment structure will be published in March 2015.

The Finnish firm is also making a number of appointments as part of its restructuring. Teemu Helppolainen is appointed head of the Housing Russia segment. He has previously been responsible for the corresponding business area.

Antti Inkilä is appointed head of the Housing Finland and CEE segment. He has worked in various positions at YIT, with the most recent being head of the Apartment Houses Metropolitan Area unit in Finland.

As of January 1, 2015, the Group Management Board will consist of YIT Corporation’s president and CEO, Kari Kauniskangas; YIT Corporation’s executive vice president and head of the business premises and infrastructure segment, Tero Kiviniemi; head of the Housing Russia segment, Teemu Helppolainen; chief financial officer, Timo Lehtinen; senior vice president, human resources, Pii Raulo; senior vice president, business development, Juhani Nummi; and as a new member head of the Housing Finland and CEE segment, Antti Inkilä.

The Extended Group Management Board will include the Heads of business divisions Kari Alavillamo, Jouni Forsman, Harri Isoviita, Pavel Kocherezkin, Matti Koskela, Timo Lehmus, Tom Sandvik and Mikhail Voziyanov, in addition to the members of the Group Management Board.