CEO Per Thelin Leaves Stockmann

Regulatory News:

STOCKMANN plc (HEX:STCBV)(HEX:STCAS), Changes board/management/auditors 4.4.2016 at 9:30 EET

Per Thelin and Stockmann plc’s Board of Directors have jointly agreed that Per Thelin will leave his position as Chief Executive Officer of Stockmann on 4 April 2016. Thelin has been the CEO of Stockmann since November 2014.

The Board of Directors has initiated a process for searching a new CEO. Lauri Veijalainen, Chief Financial Officer, has been appointed the interim CEO of Stockmann.

”The new strategy was approved in December 2014. After that the agreed strategic actions – in particular the divestments of Russian department stores and Seppälä – have been carried out as planned. The company structure consisting of Stockmann Retail, Real Estate and Lindex has been put in place, and all three divisions are being developed further. On behalf of the entire Board of Directors, I would like to thank Per Thelin for his significant contribution in implementing Stockmann’s strategy and building a good foundation for Stockmann’s future success,” says Jukka Hienonen, Chairman of the Board of Directors.

"We have achieved a major change in Stockmann’s operations since the end of 2014. This has been team work where the entire management and all our people have worked together for a common goal: to turn Stockmann back to profit. The changes made enable Stockmann to enter the next stage in its strategy with focus on growth opportunities and the omnichannel customer experience,” says Per Thelin.

www.stockmanngroup.com

STOCKMANN plc

Jukka Hienonen Chairman of the Board of Directors

Distribution: Nasdaq Helsinki Principal media

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