Sanoma Corporation, a division of SanomaWSOY Group, will reorganize its operations by incorporating Helsingin Sanomat, Ilta-Sanomat, IT operations, and the newspaper printing house, as of the beginning of 2005.
The purpose of the restructuring is to improve clarity and cost-efficiency of the operations. The goal is a growing and increasingly profitable Sanoma Corporation which is led keeping in mind the overall interest of the company.
As of 1 January 2005, Sanoma Corporation will have the following subsidiaries: Helsingin Sanomat, Ilta-Sanomat, Taloussanomat (currently Startel Oy), Lehtimedia (currently Kymen Lehtimedia Oy), Sanoma Data, Sanomapaino, Lehtikuva and Esmerk. Some of the legal names of the subsidiaries will be confirmed later due to the registration process.
Pekka Soini (46), currently Vice President, Marketing, will be appointed President of Helsingin Sanomat, and Pekka Harju (41), Vice President, Marketing, will be appointed President of Ilta-Sanomat. Veli-Pekka Elonen (38), Vice President, Administration, will be appointed President of Sanoma Data; he will also continue as Sanoma Corporation's Vice President with responsibility for development and legal affairs. Antti Mäkelä (51) will be appointed President of Sanomapaino and will continue as President of Lehtimedia. Eija Rinta (49), Chief Financial Officer, will assume some of Mr. Elonen's current administrative responsibilities.
The members on Sanoma's Management Group are: Mr. Mikael Pentikäinen, President, Mr. Elonen, Mr. Harju, Mr. Mäkelä, Ms. Rinta, and Mr. Soini, as well as Startel Oy's (Taloussanomat) President Mr. Kari Kivelä. The Strategic Management Team dealing with strategic issues also includes the Senior Editors-in-Chief: Janne Virkkunen (HS), Antti-Pekka Pietilä (IS) and Juhani Pekkala (Taloussanomat), as well as Pekka Salmén, Sanomapaino's Vice President, Production. A Vice President responsible for IT management of Sanoma Data ‑ to be appointed later ‑ will also be a member of the Strategic Management Team.
The arrangement will not affect the position and responsibilities of the Senior Editors-in-Chief. Also, the incorporation will not affect the position of personnel in Sanoma Corporation's pension fund and personnel fund, or arrangements relating to Sanoma Group.
The preparations for the plan will be initiated immediately.
Sanoma is Finland's leading publisher of newspapers. Helsingin Sanomat is the largest subscription-based newspaper in the Nordic region and Ilta-Sanomat is both Finland's second-largest newspaper and its largest quality tabloid. Sanoma's newspaper titles also include the business daily Taloussanomat, regional newspapers Etelä-Saimaa, Kouvolan Sanomat and Kymen Sanomat as well as local papers in Southeast Finland, the free ad publications Keltainen Pörssi and Palsta and the sports and sport betting weekly IS Veikkaaja. Sanoma is a division of SanomaWSOY with net sales of EUR 443.3 million in 2003.
For additional information:
Mikael Pentikäinen, President, Sanoma Corporation; tel. +358 9 122 2000
SANOMAWSOY CORPORATION
Raija Kariola
Vice President
Investor Relations and Group Communications
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Helsinki Exchanges
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