Stock exchange release
March 7, 2008
FISKARS CORPORATION ANNOUNCES NEW ORGANIZATION STRUCTURE
FISKARS CORPORATION ANNOUNCES NEW ORGANIZATION STRUCTURE Fiskars continues to streamline and organize its structure from the previous holding company structure towards a clear operational Branded Consumer Goods Company. Fiskars re-organizes its management structure to improve the efficiency of its operations. The target is to achieve a clear regional responsibility as well as a stronger focus behind each individual business area. The role of the corporate management is further clarified. Fiskars Corporate Management will participate actively in the strategic management of all its businesses. The following are members of the Corporate Management and will report directly to Fiskars Corporate President and CEO Kari Kauniskangas: Leena Kahila-Bergh Vice President, Corporate Communications Jutta Karlsson General Counsel Hille Korhonen Vice President, Operations Juha Rauhala Vice President, Corporate Finance To ensure a world-class supply chain for all of its businesses, Hille Korhonen, currently the Group Director, Operations at Iittala Group, has been appointed Vice President, Operations for Fiskars Corporation. In this newly created position Hille Korhonen will be responsible for group-wide strategy and direction in all manufacturing, sourcing and logistics-related matters. The new business segments are Americas, EMEA, and Other. In the Americas the Fiskars branded consumer products distribution, logistics and consumer preferences are common within different business areas. In the EMEA area the markets and distribution are more diversified, but from the customer point of view the business areas operate in a common environment. In the segment Other the business logic for Inha Works and Real Estate differ from the EMEA segment operations. In the new matrix organization the leadership teams are: EMEA Francis Kint President, Garden, Tero Vähäkylä President, Homeware Lars Gullikson President, Silva (Outdoor Recreation) Elly Piccart CFO, EMEA Americas Jason Landmark President, Outdoor Recreation Chad Vincent President, Craft Paul Tonnesen President, Garden Jerome Klein CFO, Americas Other Ingmar Lindberg Executive Vice President, Real Estate Jukka Suonperä President, Inha Works Francis Kint will coordinate the global Garden business, Jason Landmark will coordinate the global Outdoor Recreation business, and Tero Vähäkylä will coordinate the global Homeware business. Francis Kint, Tero Vähäkylä, Jason Landmark, Chad Vincent, Elly Piccart and Jerome Klein will report direct to Fiskars Corporation´s President and CEO. Ingmar Lindberg continues as Executive Vice President for Fiskars Corporation. In conjunction with the above changes the following other announcements are also made: Jim Purdin, President and CEO of Fiskars Brands, Inc., will leave the Company on March 31, 2008. Until then, he will help facilitate a smooth transition to the new structure. Maija Elenius, Vice President, Corporate Control, has decided to leave the Company. For the present, Juha Rauhala, Vice President, Corporate Finance, will assume the responsibility for the corporate finance management. The new organization structure will have an impact on Fiskars segment reporting from Q1/2008 as well as on comparative year and quarters in 2007. Fiskars Annual General Meeting will be held on March 25, 2008. Fiskars Q1 will be published on May 8, 2008. Kari Kauniskangas President and CEO Founded in 1649, Fiskars is a leading supplier of branded consumer goods. Fiskars business areas are: Garden, Homeware, Craft, Outdoor Recreation, Inha Works, and the Real Estate Group. Major international brands are Fiskars, Iittala, Gerber, Silva, and Buster. The associated company Wärtsilä Corporation is also an important part of the Corporation. Wärtsilä is the global leading Ship Power Supplier and a major provider of power plants for decentralized power generation with related services. In 2007, the Fiskars Corporation net sales were EUR 658 million, the operating profit EUR 110 million; while around the world the Corporation employed some 4,500 people. www.fiskars.fi