ALMA MEDIA CORPORATION STOCK EXCHANGE RELEASE 31 MARCH 2005, 9.30 1 (1)
NEW CEO FOR ALMA MEDIA
The duties and responsibilities of Alma Media's president and chief executive officer Juho Lipsanen will be transferred to Kari Telanne, MSc (Econ.) from 1 April 2005. Juho Lipsanen will continue in a special role to carry through the divestment of the Broadcasting division to its conclusion by 30 September 2005.
The change of chief executive officer is related to the refocusing of the company on newpaper publishing.
"The public offer by Schibsted ASA ultimately resulted a situation in which Alma Media's alternatives for international expansion could not be realized. The main work involved in the sale of the Broadcasting division and its implications for the company is now complete. The new Alma Media will evolve as a strong publishing company owned mainly by Finnish investors. I was committed to turning the corporation into an international concern. Now that the company's strategy is about to change, it is a natural opportunity for me seek new responsibilities," stated Juho Lipsanen.
Kari Stadigh, chairman of the Board of Directors, noted that he is satisfied with Alma Media's recent performance, the change in the company's management culture and the improvement in shareholder value during the ongoing merger process. "The decision was made owing to a reduction in international challenges. I thank Juho Lipsanen for his considerable contribution to Alma Media's development," he commented.
Kai Telanne, who takes up the position of President and CEO at the beginning of April, said that the new Alma Media is in financially good shape, its products hold a strong market position and, in its new form, its pace of development is good. The regional, local and free newspapers all have strong coverage in their respective areas. Iltalehti is well on the way to market leadership. Kauppalehti is the leading brand in financial information in Finland with recognized expertise in multimedia management. And the company's classified online services are pioneers in their fields with potential for international expansion.
Kai Telanne has been president of the publishing company Kustannus Oy Aamulehti between 2001 and 2005. His earlier positions include executive vice president of the company between 2000 and 2001 and other positions in Kustannus Oy Aamulehti and Suomen Paikallissanomat Oy.
ALMA MEDIA CORPORATION
DISTRIBUTION: Helsinki Exchanges, Principal Media
Kai Telanne, President and CEO, Alma Media Corporation from 1 April 2005, tel. +358 (0) 3 266 6461
Juho Lipsanen, President and CEO, Alma Media Corporation until 31 March 2005, tel. +358 (0) 9 507 8715
Kai Telanne's photo and CV at http://www.almamedia.fi/executive