Kojamo plc Insider Information, 7 October 2024 at 9:00 a.m. EEST

HELSINKI, Oct. 7, 2024 /PRNewswire/ -- The Board of Directors of Kojamo plc and CEO Jani Nieminen have mutually agreed that Nieminen will step down from his position. Nieminen assumed his role as Kojamo's CEO in 2011. The Board of Directors has appointed the company's CFO and Deputy CEO, Erik Hjelt, as Kojamo's interim CEO. Hjelt will assume the role immediately. Since 2015, Hjelt has served as Kojamo's CFO, in which role he will continue alongside his new responsibilities as interim CEO.

The Board of Directors has initiated the search process for a new CEO.

"Under Nieminen's leadership, Kojamo has grown into Finland's largest private residential investment company, with a focus on the country's major growth centres. Kojamo has made determined investments in new developments, the conversion of properties for residential use, the acquisition of ready-made residential assets, as well as digital development and services. I would like to thank Nieminen for his dedicated work, with one of the major milestones being the successful listing of Kojamo on the stock exchange in 2018. The company has significantly increased its efficiency, and its financial position is strong," says Mikael Aro, Chairman of the Board of Kojamo plc.

"As noted in Kojamo's half-year report for the period from 1 January to 30 June 2024, the goal is to maintain the company's strong financial position and adapt its operations to the challenges posed by uncertainty in the real estate market and higher interest rates. We expect the new CEO to bring a long-term strategic approach, suited to Kojamo's overall situation," Aro concludes.

"The journey has been inspiring and bold, also requiring reaction to changing circumstances. I got to be part of building the company's complete renewal and focus on commercial operations. We have changed the rental market with our service-focused Lumo brand that combines apartments, common areas as well as physical and digital services. As a listed company, following robust growth the real estate investment firm Kojamo reacted successfully to the changing operating environment and now continues its strong journey. I want to give my warmest thanks to the company and Kojamo colleagues for the past years," says Jani Nieminen.

For more information, please contact:

Mikael Aro, Chairman of the Board of Directors, contact requests through Kojamo's Executive Assistant Outi Komi, tel. +358 20 5083 335 or [email protected].