Source - GNW

SATO Corporation, Changes board/management/auditors, 5th September 2016 at 11:45 am

Esa Neuvonen, who joined SATO Corporation as CFO in 2009, resigns to start at the service of a new employer.

Saku Sipola, President and CEO:

"As SATO's CFO and a member of  the management team Esa has had a significant role in SATO's development to one of the leading housing investors and provider of rental housing services in Finland. Since the year 2000, SATO has grown strongly and has been the most active housing investor in Finland. We have diversified and broadened our funding base, which has been one of the requirements for the strong growth."

"We thank Esa for his contribution for the company and wish him a successful continuation for his career. "

SATO will start the recruitment process of a new CFO immediately.

Further information:

Saku Sipola, President and CEO, tel.  +358 201 34 4001 and +358 40 551 5953

SATO is one of Finland's leading rental housing providers. SATO's aim is to offer comprehensive alternatives in rental housing and an excellent customer experience. At the end of Q2/2016, SATO holds roughly 25,400 rental homes in Finland's largest growth centres and in St Petersburg.

In our operations, we promote sustainable development and initiative-taking, and work in open interaction with our stakeholders to create added value. We operate profitably and with a long-term view. We increase the value of our housing property through investments, divestments and repair work.

SATO Group's net sales in 2015 were €323.4 million, operating profit €196.5 million and profit before taxes €159.4 million. SATO's investment properties have a value of roughly 3.2 billion (Q2/2016).

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Source: SATO Oyj via Globenewswire