Change in Caverion’s division structure and Group Management Board

Change in Caverion’s division structure and Group Management Board

Caverion is renewing its division structure by separating its Denmark-Norway division operations into two divisions Denmark and Norway. Since January 2016, Caverion Denmark and Caverion Norway have been operating as one division headed by Knut Gaaserud, Executive Vice President & CEO, Division Denmark-Norway. As a result, the following changes will take place as of January 1, 2018.

Michael Højgaard (born 1961), currently Managing Director for Caverion Denmark has been appointed as Head of Division Denmark and a member of the Group Management Board of Caverion Corporation as of January 1, 2018. Højgaard will report to President and CEO Ari Lehtoranta.

Executive Vice President & CEO Knut Gaaserud, currently Head of Division Denmark-Norway will continue as the Head of Division Norway and a member of the Group Management Board of Caverion Corporation as of January 1, 2018.

Michael Højgaard has previously acted as the CEO of Lindpro in 2005–2013 and most recently as the CEO of Air Greenland. From 1998 to 2005 he served as Vice President at SAS Technical Services AB in Stockholm. He is educated from the Technical University of Denmark, Copenhagen Business School, INSEAD and Columbia Business School. Højgaard is also a member of the board of CN3.

“The decision to separate the two divisions is natural as both countries get more management focus now that we are entering our next strategy period. I am glad that Michael brings our Group Management Board his long background in our industry to further develop our Danish business. Knut has made a turnaround in Denmark performance under his leadership. He has done the same in Norway and we are now ready for growth there. I would like to thank him for his extra effort in managing Denmark,” says Ari Lehtoranta, President and CEO of Caverion Corporation.

The CV and photo Michael Højgaard are available on Caverion’s website at http://www.caverion.com/investors/corporate-governance/management-board

CAVERION CORPORATION

Distribution: Nasdaq Helsinki, key media, www.caverion.com

Downloads