KONE Corporation, stock exchange release, July 22, 2015 at 08.30 a.m. EET
Kazunori Matsubara steps down from KONE's Board of Directors
Kazunori Matsubara, member of the Board of Directors of KONE Corporation since 23 February 2015, has tendered his resignation from the Board as of July 22, 2015.
Mr. Matsubara resigns from the Board following the sale on July 22, 2015 by Toshiba Elevator and Building Systems Corporation (TELC) of their previously held 4.6% stake in KONE Corporation's share capital. The sale of the KONE shares by TELC and resignation by Mr Matsubara has no other effect on the strategic alliance between KONE and TELC. KONE continues as a shareholder of TELC with a 19.9% stake in the company's share capital.
Following the resignation of Mr. Matsubara, the Board of Directors of KONE Corporation consists of eight members. The term of the Board of Directors extends until the end of the next Annual General Meeting of KONE Corporation.
For further information, please contact:
Jukka Ala-Mello, Secretary to the Board, tel. +358 204 75 4226
Secretary to the Board
Executive Vice President
Legal affairs, M&A, Strategic alliances, Russia
KONE is one of the global leaders in the elevator and escalator industry. KONE'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. KONE provides industry-leading elevators, escalators, automatic building doors and integrated solutions to enhance the People Flow in and between buildings. KONE's services cover the entire lifetime of a building, from the design phase to maintenance, repairs and modernization solutions. In 2014, KONE had annual net sales of EUR 7.3 billion, and at the end of the year over 47,000 employees. KONE class B shares are listed on the NASDAQ OMX Helsinki Ltd. in Finland.