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Changes in the KONE Executive Board and organization

Stock Exchange Release Published 13/09/2010

KONE will establish a new Customer Experience unit to support its development into an even more customer focused company. Juho Malmberg has been appointed Executive Vice President for this unit. He has been responsible for the Development unit at KONE for the past five years. Kati Hagros has been appointed Senior Vice President, Development and CIO.

Peter de Neef, Executive Vice President, Service Business, since 2005, has decided to leave KONE as of October 31, 2010 and will become the CEO of a Dutch company.

Pekka Kemppainen has been appointed Executive Vice President, Service Business. He has been responsible for KONE’s business in Asia-Pacific for the past six years.

Noud Veeger has been appointed Executive Vice President, Asia-Pacific. He has been responsible for KONE’s business in Central and North Europe for the past five years.

Ari Lehtoranta has been appointed Executive Vice President, Central and North Europe. He has been responsible for the Major Project Business for the past two years. Tarek Elnaggar has been appointed Senior Vice President, Major Projects Business. He is currently responsible for KONE’s business in the Middle East.

Juho Malmberg, Pekka Kemppainen, Noud Veeger and Ari Lehtoranta will continue as members of the Executive Board and report to Matti Alahuhta, President and CEO. Kati Hagros will report to Henrik Ehrnrooth, CFO, and Tarek Elnaggar will report to Heikki Leppänen, Executive Vice President, New Equipment Business. All appointments will be effective as of November 1, 2010.

“Our objective is to make KONE an even stronger company in our industry. We develop our competitiveness actively and on a broad basis. These appointments support this development,” says Matti Alahuhta, President and CEO of KONE Corporation.

About KONE

KONE is one of the global leaders in the elevator and escalator industry. The company has been committed to understanding the needs of its customers for the past century, providing industry-leading elevators, escalators and automatic building doors as well as innovative solutions for modernization and maintenance. The company's objective is to offer the best people flow experience by developing and delivering solutions that enable people to move smoothly, safely, comfortably and without waiting in buildings in an increasingly urbanizing environment. In 2009, KONE had annual net sales of EUR 4.7 billion and approximately 34,000 employees. KONE class B shares are listed on the NASDAQ OMX Helsinki Ltd in Finland. Founded in 1910, KONE celebrates its centennial anniversary in 2010.


For further information, please contact:

Anne Korkiakoski, Executive Vice President, Marketing & Communications, tel. +358 204 75 4775


KONE Corporation

Matti Alahuhta
President & CEO

Anne Korkiakoski
Executive Vice President
Marketing & Communications