Citycon Oyj's Board of Directors has appointed Marcel Kokkeel the company's new
Chief Executive Officer, effective 24 March 2011.
Kokkeel currently heads the Dutch Multi Corporation's West-Europe Division, and
is the chairman of Multi Mall Management Europe. Prior to that, he was chairman
of the board of Bouwfonds Property Finance and made an extensive career at Royal
Ahold N.V. holding latest the position of CEO and President of Ahold Real Estate
Europe. He is 52 years old (b. 1958) and holds a degree in law from University
of Amsterdam, the Netherlands, which is his home country.
"This is the right time for us to accelerate the growth of Citycon", said Chaim
Katzman, Chairman of the Citycon Board of Directors. "Marcel Kokkeel is widely
known and respected throughout Europe for his deep commercial real estate
experience and background. He has special expertise in the shopping centre
sector, strong international background and leadership skills. His extensive
industry experience and proven track record will help us with our plans to grow
Citycon, and increase shareholder value."
"I am most excited to become part of a team dedicated to strengthening Citycon's
position as the market leader in Finland, and I'm looking forward to growing the
company's position in the other Nordic and Baltic countries", said Kokkeel. "I
was attracted to this opportunity because of Citycon's unique concept, its
strong position, and its cutting edge approach to sustainability. The company
has talented and dedicated professionals in place, and I am confident that
together we can continue enhance and grow our shopping centre positions and
commercial appeal."
Petri Olkinuora will continue as the company's CEO until the Annual General
Meeting on 23 March 2011.
A press conference will be held today at Citycon's head office in Helsinki,
Finland, at 10.00 a.m. EET (CET+1). The press conference and web cast details
can be found at www.citycon.com.
Helsinki, 14 January 2011
CITYCON OYJ
Board of Directors
For further information, please contact:
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
[HUG#1479644]