EFORE PLC Stock Exchange Release March 15, 2010 at 2.00 p.m.
Vesa Vähämöttönen (Tech.Lic), has been appointed President and CEO of Efore Plc.
Mr Vesa Vähämöttönen,(b. 1966) will take on the duties of President and CEO on
June 1, 2010.
Reijo Mäihäniemi, Efore's present President and CEO will leave his position on
May 31, 2010 and will continue to serve the company as Senior Adviser to Board
of Directors and the CEO in corporate development issues during a period of
transition.
Vesa Vähämöttönen will join Efore from Liteonmobile (ex Perlos) where he acted
as Senior Vice President, Sales and Marketing and was responsible for global
sales, marketing and customer relationships in 2006 - 2010. Prior to this Vesa
Vähämöttönen acted as Managing Director of Flextronics ODM Finland and in 1999 -
2004 he acted e.g. as General Manager, Europe in Filtronic Comtek. He has a
total of over 10 years of experience in operative business management in the
industrial sectors of electronics.
"Efore's Board wishes to thank Reijo Mäihäniemi for his work and achievements in
Efore. Under his leadership the remarkable restructuring work has been carried
out and as a result of that focal point of Efore business has been increasingly
moved to Asia. At the same time it has been created a firm basis for the company
to implement its strategy. Vesa Vähämöttönen's wide experience in electronics
business and in successful business management provide an excellent premise for
further development of the company." says Isto Hantila, Chairman of the Efore
Board of Directors.
"Primary changes related to the globalization of the company have been made and
despite of the difficult market situation the demand has started to grow. So for
Efore the future looks bright. A solid basis for the growth of the company has
been built so the time is right for transferring CEO duties to a successor with
substantial international experience and for my gradual retirement " says Reijo
Mäihäniemi, President and CEO of Efore Plc.
EFORE PLC
Board of Directors
Additional information available from Isto Hantila, Chairman of the Board, tel.
+ 358 50 4060 656 and Reijo Mäihäniemi, President and CEO, tel. + 358 9 4784
6312
DISTRIBUTION
Nasdaq OMX Helsinki
Principal media
Efore Group
Efore Group is an international company providing services for ICT and
industrial electronics. Its operations comprise energy saving custom-designed
power supplies, power systems, manufacturing of demanding electronics, and
related service and maintenance.
Efore's head office is in Espoo, Finland. Besides Finland, the company's product
development and marketing units are located in China, the USA and Sweden. Its
production units are located in China and Estonia. In the fiscal year ending in
October 2009, consolidated net sales totaled EUR 64.1 million and the Group's
personnel averaged 565. The company's share is quoted on the Nasdaq OMX Helsinki
Ltd.
www.efore.com
VESA VÄHÄMÖTTÖNEN APPOINTED NEW PRESIDENT AND CEO OF EFORE PLC AS FROM JUNE 1, 2010
| Source: Enedo Oyj