Tulikivi Corporation is reducing the number of members in its Management Group to four and reorganising the managers’ areas of responsibility.

Jouko Toivanen (b. 1967), D.Sc. (Tech), M.Sc. (Eng), was appointed the new Director of Finance and Administration on 26 August 2013. Jouko Toivanen has worked for Tulikivi since 1993 and has been a member of the Management Group since 1995. Toivanen will leave his current post as the Head of the Lining Stone and the Interior Stone Business when he assumes his new duties. Jouko Toivanen has previously been the Financial Director of Tulikivi, from 2001 until 2007. A new manager will be appointed later for the Lining Stone and the Interior Stone Businesses. Risto Vidgren, the current Financial Director, will not continue in the company’s service.

Anu Vauhkonen (b.1972), M.A., was appointed Director of Domestic Sales and Marketing. Anu Vauhkonen has worked for Tulikivi since 1998 and has been a member of the Management Group since 2001. Vauhkonen will leave her current post as the Director of Corporate Communications when she assumes her new duties. Vauhkonen will also be given the responsibility of domestic sales, marketing and communications, and product development. Juha Sivonen, the current Director of Domestic Fireplace Sales, will not continue in the company’s service.

Ismo Mäkeläinen (b. 1962), Master Builder, will continue as Director of Production and Purchasing and as a member of the Management Group. Ismo Mäkeläinen has been a member of the Management Group since 2009.

In a release published on 23 August 2013, Tulikivi announced that the company has appointed a new Managing Director. Heikki Vauhkonen (b. 1970), LL.M., B.Sc. (Econ. & Bus. Adm.), who was the full-time Chairman of the Board, has been appointed the new Managing Director.

After these changes are implemented, the Management Group will comprise Heikki Vauhkonen, Managing Director, Ismo Mäkeläinen, Director of Production and Purchasing, Anu Vauhkonen, Director of Domestic Sales and Marketing and Jouko Toivanen, Director of Finance and Administration. Martti Purtola, Head of the Sauna Business, and Michel Mercier, Export Director, who were also members of the Management Group, will continue to work for the company.

The above-mentioned changes will reduce annual management costs by approximately EUR 0.6 million. The changes will result in a non-recurring cost of approximately EUR 0.6 million during the third quarter.

The primary task of the new Management Group is to implement the company’s major performance improvement programme. The goal of the programme is to boost the annual operating result excluding non-recurring items by EUR 7 million by the end of 2015.

TULIKIVI CORPORATION

Board of Directors

Distribution: NASDAQ OMX Helsinki
Key media
www.tulikivi.com

Additional information: Tulikivi Corporation, FIN-83900 Juuka, www.tulikivi.com
– Heikki Vauhkonen, Managing Director, tel. +358 (0)207 636 555
– Harri Suutari, Chairman of the Board of Directors, tel. +358 (0)400 384 937