Lassila & Tikanoja plans to accelerate strategy execution and renews its Group Executive Board

Lassila & Tikanoja plc
Stock exchange release
16 May 2024 at 8.00 a.m.

Lassila & Tikanoja plans to accelerate strategy execution and renews its Group Executive Board

Lassila & Tikanoja plc plans to accelerate the execution of its strategy launched in Autumn 2023. The Group will start a renewal of its operating model to strengthen the growth of its circular economy business. The composition of L&T’s Group Executive Board will also change in conjunction.

Lassila & Tikanoja’s Group Executive Board effective May 16, 2024

The new Group Executive Board will assume their roles 16 May, 2024 led by CEO Eero Hautaniemi.

• Public Affairs, Sustainability and Strategy - Jorma Mikkonen
• Facility Services Finland and Sweden - Antti Niitynpää
• Personnel and Legal Affairs - Hilppa Rautpalo
• Sourcing - Juha Saarinen 1 August, 2024 onwards
• ICT - Edward Skärström
• Finance - Joni Sorsanen 10 July, 2024 onwards
• Environmental and Industrial Services - Antti Tervo

Current Group Executive Board member Mikko Taipale continues with the company in his current role but he will no longer be a member of the Group Executive Board 16 May, 2024 onwards. Petri Salermo who currently leads Environmental Services and General Council Sirpa Huopalainen have decided to pursue their careers outside of L&T effective 16 May, 2024.

”I wish to thank Petri and Sirpa for their valuable contribution to the growth and development of L&T and I wish them best of success in their future endeavors, says Eero Hautaniemi, CEO of Lassila & Tikanoja.

Planning of the new operating model begins

Planning of the new operating model will begin immediately and the new operating model will build on L&T’s current strengths. Stronger cooperation between the divisions and the Group functions will bring efficiencies and synergies and a joint leadership of the divisions will allow L&T to take better use of growth opportunities. Target is to have the planning completed during the Autumn 2024.  

”Environmental and Industrial Services divisions have a broad common customer base and both divisions operate in different parts of the same material value chains. A strong cooperation between the two divisions will allow us to respond to customer needs better and to increase material value more effectively. Closer cooperation between the divisions and the Group functions will bring efficiencies to daily work”, says Hautaniemi.

Changes in the composition of the Group Executive Board will not affect the reporting segments of the Group which are Environmental Services, Industrial Services, Facility Services Finland and Facility Services Sweden.

LASSILA & TIKANOJA PLC

Eero Hautaniemi

President and CEO

For additional information, please contact:

Eero Hautaniemi, President and CEO, tel. [phone]

Lassila & Tikanoja is a service company that is putting the circular economy into practice. Together with our customers, we keep materials, manufacturing sites and properties in productive use for as long as possible and we enhance the use of raw materials and energy. This is to create more value with the circular economy for our customers, personnel and society in a broader sense. Achieving this also means growth in value for our shareholders. Our objective is to continuously grow our actions’ carbon handprint, our positive effect on the climate. We assume our social responsibility by looking after the work ability of our personnel as well as offering jobs to those who are struggling to find employment, for example. With operations in Finland and Sweden, L&T employs 8,160 people. Net sales in 2023 amounted to EUR 802.1 million. L&T is listed on Nasdaq Helsinki.

Distribution:

Nasdaq Helsinki

Major media

www.lt.fi/en/