STOCKMANN plc STOCK EXCHANGE RELEASE March 26, 2004, 12.00 noon
KLAUS SUNDSTRÖM APPOINTED AS NEW DIRECTOR OF STOCKMANN'S VEHICLE DIVISION
As new director of Stockmann's Vehicle Division and member of Stockmann
Group's Management Committee has been appointed Klaus Sundström (53),
M.Sc.(Econ.). He has previously served as Managing Director of e.g. Maan
Auto Oy and Metro-Auto Group. Sundström's present post is as director of
VR Ltd Passenger Services.
Klaus Sundström enters Stockmann's employ in April 2, 2004. Esa Mäkinen,
the present director of the Vehicle Division, will start in August as
Managing Director of Veho Oy Ab, retail trade unit of the Veho Group.
Mäkinen continues attending to the current operational matters of the
Vehicle Division until the end of March.
The Vehicle Division is one of Stockmann's four commercial divisions, the
rest of which are the Department Store Division, Hobby Hall that engages
in distance retailing, and Seppälä, chain of fashion stores. The Vehicle
Division's sales in 2003 amounted to EUR 480 million and its share of
Stockmann's consolidated sales was 28 per cent. The Vehicle Division acts
as a dealer for Ford, Audi, Volkswagen and Skoda and has operations in the
Helsinki metropolitan area, Turku and Tampere. With its market share of 24
per cent the division is the clear market leader in the Helsinki
metropolitan area. In 2003, Stockmann's Vehicle Division became the
largest Ford dealer in the Northern countries. The division has posted
record earnings in the past two years.