Heikki Westerlund proposed to become Chairman of CapMan Plc Board
(Thomson Reuters ONE) - CapMan Plc Stock Exchange Release 5 February 2009 8.25 a.m.Heikki Westerlund proposed to become Chairman of CapMan Plc Board- Next step in generation shiftCapMan Plc has today announced in the notice of its Annual General Meeting (AGM)that Ms. Sari Baldauf, Mr. Conny Karlsson, Mr. Tapio Hintikka and Mr. TeuvoSalminen shall be proposed to be re-elected to the Board of Directors of CapManPlc in the AGM on 30 March 2010 and that Mr. Koen Dejonckheere, CEO of Gimv, andMr. Heikki Westerlund, current CEO of CapMan Plc, shall be proposed as newcandidates to the Board.Ari Tolppanen has served as Chairman of the CapMan Plc Board for the past fiveyears and at the same time worked as investment professional in CapMan Buyoutteam. He has now expressed his desire to leave the Board and concentrate fullyon making new investment and serving in the boards of CapMan's portfoliocompanies. As a founding partner, Mr. Tolppanen served as CapMan CEO during1989-2005.CapMan Plc shareholders representing more than ten (10) per cent will recommendthat CapMan Plc's current CEO Heikki Westerlund shall be chosen the Chairman ofthe Board of Directors. The Chairmanship of CapMan Plc is not a full time duty.Mr. Westerlund's daily work would focus on CapMan's investment activities,especially developing best practices, making new investments e.g. as a chairmanof the investment committees of CapMan's buyout and public market funds, andworking with portfolio companies.CapMan Plc Board of Directors has appointed a taskforce to find a new CEO forthe Group. Tapio Hintikka will act as the taskforce chairman with Sari Baldauf,Ari Tolppanen and Heikki Westerlund as members. Westerlund will continue asGroup CEO until a new CEO has been appointed and will start in the position."CapMan has doubled in size under Heikki's leadership and at the same time hehas systematically created the infrastructure and service platform which willallow us to continue on our growth path. Thanks to this operational structure,we have weathered the turbulent market conditions during the past years well.Our portfolio remains in good condition and our funds have approximately EUR1.0 billion investment capacity for new acquisitions and follow-on investmentsin future," states CapMan Chairman Ari Tolppanen."During the next coming years we will concentrate on further development of oursix investment areas and will seek organic growth primarily through raising newfunds for them. Hence, this moment provides a perfect opportunity to continueimplementing our succession plan, and for Heikki to assume the responsibilitiesof chairman after successful five years as CapMan's CEO," Tolppanen continues."The years as the CEO of CapMan have been extremely interesting and personallyrewarding. CapMan's future prospects are good and we are well positioned forcontinuing growth and clearly improved profitability," says CapMan CEO HeikkiWesterlund."As in many expert organisations I feel natural to limit the CEO tenure to fiveyears. It has been a privilege to lead this organisation and see it grow from alocal Finnish company into international, listed finance organisation,"Westerlund states and continues: "CapMan continues to provide a fascinatingvantage point to the society in general and the finance industry in particular.I look forward to dedicate more time to the investment activities and toformulate CapMan's future strategy. Ari's leadership in succession planning hasbeen invaluable and underlines the strength of our culture and businessmodel."For more information, please contact:Ari Tolppanen, Chairman of the CapMan Plc Board of Directors, tel. +358207 207 507 or +358 500 407 343Heikki Westerlund, CEO of CapMan Plc, tel. +358 207 207 504 or +358 50 559 6580CAPMAN PLCBoard of DirectorsDISTRIBUTIONHelsinki Stock ExchangePrincipal mediawww.capman.comCapMan www.capman.comCapMan is one of the leading alternative asset managers in the Nordic countriesand Russia and manages private equity funds with approximately EUR 3.5 billionin total capital. CapMan has six investment areas (CapMan Buyout, CapManTechnology, CapMan Life Science, CapMan Russia, CapMan Public Market and CapManReal Estate), and each of them has a dedicated team and funds. Altogether CapManemploys nearly 150 people in Helsinki, Stockholm, Copenhagen, Oslo and Moscow.CapMan was established in 1989 and its B shares are listed on the Helsinki StockExchange since 2001.[HUG#1381022]
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Datum: 05.02.2010 - 07:25 Uhr
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