CITYCON OYJ Inside Information 8 October 2024 at 21:45 hrs
The Board of Directors of Citycon Oyj ("Citycon" or the "Company") and Citycon's CEO Henrica Ginström have mutually agreed that Ms. Ginström will step down from her position with immediate effect. Ms. Ginström assumed her role as Citycon's CEO in April 2024. The Company's Board of Directors has appointed Vice Chairman of the Company's Board of Directors F. Scott Ball as Citycon's interim CEO. Mr. Ball, who has previously served as Citycon's CEO during the years 2019-2024, will assume the role immediately and will reside in Helsinki through his tenure. Mr. Ball has also served as a member of Citycon's Board of Directors since 2021, in which role he will continue alongside his new responsibilities as interim CEO.
The Company's Board of Directors has initiated the search process for a new CEO.
"I would like to thank Henrica for her many years of service to Citycon and wish her great success in her future endeavors. Citycon owns a high quality portfolio of necessity based, grocery anchored shopping centers in irreplaceable urban locations and the Board believes a robust operational plan will extract the untapped embedded value in its assets and will maximize value for all its stakeholders" says Chaim Katzman, Chairman of the Board of Directors of Citycon.
"I would like to thank the company and all its employees for the past thirteen years. I feel privileged and grateful to have worked with such a team of professional and passionate co-workers" says Henrica Ginström.
The professional biography of F. Scott Ball is available on Citycon's website at https://www.citycon.com/about-us/organisation/board-of-directors.
CITYCON OYJ
For further information, please contact:??
Chaim Katzman
Chairman of the Board of Directors
Contact requests through:
Pia Grahn
Communications Director
Tel. +46 73 037 1722
pia.grahn@citycon.com
Citycon is a leading owner, manager and developer of mixed-use real estate featuring modern, necessity-based retail with residential, office and municipal service spaces that enhance the communities in which they operate. Citycon is committed to sustainable property management in the Nordic region with assets that total approximately EUR 4.2 billion. Our centres are located in urban hubs in the heart of vibrant communities with direct connections to public transport and anchored by grocery, healthcare and other services that cater to the everyday needs of customers.
Citycon has investment-grade credit rating from Standard & Poor's (BBB-). Citycon Oyj's shares are listed on Nasdaq Helsinki.
www.citycon.com
