Alma Media adopts line organization
ALMA MEDIA CORPORATION STOCK EXCHANGE RELEASE 18 MAY 2005, 15.00 1 (2)
ALMA MEDIA ADOPTS LINE ORGANIZATION
Alma Media Group is in the process of dismantling its division-based structure and adopting a direct line organization. The new structure is intended to promote efficient and flexible management able to respond rapidly to changing market conditions. From now on the Group Executive Team will have ten members: the company's president and CEO, the senior business presidents responsible for the Group's 4 administrative functions, the senior vice presidents in charge of the 4 business units, and the editor-in-chief of the Aamulehti newspaper. The new organization comes into effect immediately.
Alma Media started reorganizing its business structure after the divestment of the Broadcasting division was completed on 26 April 2005. The company's new business organization is based on business units that report directly to the chief executive officer. Within Group Administration the finance, human resources and corporate communications functions will continue to report directly to the CEO. A new function, corporate development, has been established reporting also to the CEO.
Alma Media's business units are: Aamulehti, Satakunnan Kansa, Pohjoiset Lehdet, Suomen Paikallissanomat, Kauppalehti, Iltalehti and Marketplaces. With Kai Telanne having relinquished the responsibilities of Aamulehti's managing director to become President and CEO of the Alma Media Group, Juha Ruotsalainen MSc. (Eng.), currently Managing Director of the Pohjoiset Lehdet (Northern Newspapers) business unit, has been appointed to head the Aamulehti business unit from 1 June 2005.
The heads of the Group's other business units are as follows: Tuomo Saarinen MSc (Eng.) Satakunnan Kansa, Jorma Valkama MSc (Econ.) Suomen Paikallissanomat, Kari Kivelä MSc (Soc.) MBA Iltalehti, Juha Blomster MSc (Econ.) Kauppalehti, and Raimo Mäkilä MSc (Eng.) Marketplaces.
Within Group Administration the heads of the three existing functions are: Teemu Kangas-Kärki MSc. (Econ.) Finance, Terhi Heikkinen MSc. (Econ.) Human Resources, and Ahti Martikainen M.A. Corporate Communications and IR. Minna Nissinen MSc (Econ.) has been appointed Senior Vice President, Corporate Development with responsibility for the Group's corporate development and newspaper chain management. The members of the Group Executive Team from now on are: Kai Telanne, Teemu Kangas-Kärki, Terhi Heikkinen, Ahti Martikainen, Minna Nissinen, Tuomo Saarinen, Juha Blomster, Kari Kivelä, Raimo Mäkilä and Matti Apunen.
ALMA MEDIA CORPORATION
Senior Vice President, Corporate Communications and IR
DISTRIBUTION: Helsinki Exchanges, principal media
Photos available at http://www.almamedia.fi/folder?&bank_folder=29 and http://www.almamedia.fi/folder?bank_folder=49
Group Executive Team's CV's at http://www.almamedia.fi/executive
Alma Media, a leading Finnish media corporation, publishes newspapers, produces and distributes economic information, and maintains online marketplaces. The Group has more than 30 newspapers in its portfolio. The aggregate circulation of the subscribed papers totals approximately 600,000 copies. The Group's newspapers are estimated to have over two million readers.
Alma Media's best known products are the Aamulehti, Iltalehti, and Kauppalehti papers and the Etuovi.com home-buying Internet service. The Group derives roughly 40 % of its net sales from newspaper circulation revenues and income from content sales. Pro form net sales in 2004 (excluding the television and radio broadcasting operation divested in 2005) amounted to EUR 284 million, generating an operating margin of 12.9 %. The company has 2,850 employees. More information at http://www.almamedia.fi/home
- Date: 18.5.2005, 17:00
- News type: Stock exchange release
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