May 14, 2010

Changes in the management at Proventia Group Oy

The Board of Directors of Proventia Group has appointed Mr. Markku Hakkarainen, currently President of Proventia Americas LLC, as the Chief Executive Officer of Proventia Group as of 1.6.2010. Mr. Hakkarainen will continue also as a President of Proventia Americas LLC. The current Proventia Group CEO, Mr. Lauri Antila, has been appointed Vice President, Industrial Investments of Head Invest Ltd, main owner of Proventia Group Ltd.

“The US is the single most important strategic market for us and we want this fact to be reflected also in our operative organization. Markku has a great history and track record, now it is his turn to run the show. On the other hand, we want to be a good and powerful owner, and really bring strategic insight and resources to businesses we are active in, including Proventia Group, and Lauri has a great history and the capabilities to do that. All in all we have a good team in place to take this business to the next level,” says Veikko Lesonen, Chairman of Board for both Head Invest and Proventia Group.