Changes in the SATO management team

20 October 2016

SATO Corporation, Changes board/management/auditors, 20th October 2016 at 1:40 pm

Vice president Tuula Entelä has announced that she will retire at the end of the year. Entelä will continue working as a senior advisor and a member of the management team until 31 December 2016. She will also be responsible for operations in St. Petersburg and for SATO HotelHomes and for tutoring the new members of the management team. After this, responsibility for operations in St. Petersburg will transfer to CEO Saku Sipola, and vice president Antti Asteljoki will be responsible for SATO HotelHomes.

The development activities covered by Tuula Entelä will transfer to Monica Aro, the current director of marketing and communications at SATO, who has been appointed vice president of development at SATO as of 28 November 2016. Aro will continue as a member of SATO's management team.

Miia Eloranta (43), M.Soc.Sc., has been appointed director of marketing and communications and a member of the Group's management team as of 28 November 2016. Eloranta joins SATO following three years as the director of communications and marketing of ISS Palvelut Oy. Prior to that she had served as communications director at the Bioenergy Association of Finland and as Communications and Marketing Business Unit manager at Soprano Plc.

Starting from 1 December 2016, Markku Honkasalo (52), LL.M., eMBA, will serve as CFO of SATO and a member of the Group's management team. He will be responsible for finances and funding, IT and procurement at SATO. Honkasalo joins SATO following the post of CFO at Componenta Corporation. Prior to that Honkasalo has worked as the CFO with Valmet Corporation and Rautaruukki Plc, and in different positions in the paper and banking sectors.

The members of the Group's management team report to CEO Saku Sipola.

For more information please contact:

SATO Corporation
Saku Sipola, President and CEO, phone +358 201 34 4001 or +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).