Sharam Rahi appointed SATO´s acting President and CEO

29 August 2019

SATO Corporation, Stock Exchange Release, 29th August 2019 at 9:00 am

SATO Corporation´s Board of Directors has appointed Sharam Rahi, 46, the President and CEO of SATO, starting from September 1, 2019. Mr. Rahi acts as President and CEO until a permanent CEO is appointed. Mr. Rahi is the Vice CEO at Fastighets AB Balder, the main owner of SATO.

SATO´s Board of Directors and the current President and CEO, Saku Sipola, have agreed that Sipola leaves his position on 31th August. SATO announced June 26, 2019 that Sipola is leaving the company for a position in another company.

For more information please contact
SATO Corporation
Chairman of the Board Erik Selin, tel. +46 31 10 95 92
EVP, Marketing and Communications Miia Eloranta, tel. +358 50 441 4221

*SATO is one of Finland's leading rental housing providers. SATO aims to offer a comprehensive choice of rental housing and an excellent customer experience. At year-end 2018 SATO owned around 25,900 apartments in Finland's largest growth centres and in St. Petersburg. We promote sustainable development and initiative through our operations and work in open interaction with our stakeholders to generate added value. We operate profitably and with a long-term view. We increase the value of our housing stock through investments, divestments and repairs. The SATO Group's net sales in 2018 were EUR 290 million, operating profit EUR 273 million and profit before taxes EUR 231 million. The value of SATO's investment properties was roughly EUR 3.9 billion.