Citycon’s collaborative negotiations have ended and reorganization of business operations started

Stock exchange releases - 30 January 2013


 Citycon Oyj’s statutory collaborative negotiations in the Finnish Business Unit concerning reorganization of business operations have been concluded. As a result of the negotiations, Citycon will reduce a total of 10 employees from its Finnish Business unit. It was estimated when the process started that a maximum of 14 employees would possibly be reduced.



 A cluster organization model will be taken into use in all of Citycon’s operating countries. In the cluster organizational model shopping centres will be combined to form entities which are led by commercial directors. The new organizational model will be more efficient and it will bring decision-making closer to the business. At the same time operational processes will be streamlined and overlapping responsibilities will be removed.



 Helsinki, 30 January 2013



 CITYCON OYJ

 Marcel Kokkeel

 CEO


 

 For further information, please contact:

 Marcel Kokkeel, CEO

 Tel. +358 20 766 4521 or +358 40 154 6760

 marcel.kokkeel@citycon.fi

  



 Eero Sihvonen, Executive Vice President and CFO

 Tel. +358 20 766 4459 or +358 50 557 9137

 eero.sihvonen@citycon.fi



 Distribution:

 NASDAQ OMX Helsinki

 Major media

 www.citycon.com

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