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Friday, 24 November 2017

Tokmanni Group Corporation: Kesko has applied for an injunction to prevent Mika Rautianen from starting at Tokmanni according to previously announced schedule

Tokmanni Group Oyj    

Published: 15:30 CET 24-11-2017 /GlobeNewswire /Source: Tokmanni Group Oyj / : TOKMAN /ISIN: FI4000197934

Tokmanni Group Corporation: Kesko has applied for an injunction to prevent Mika Rautianen from starting at Tokmanni according to previously announced schedule

Tokmanni Group Corporation              Company Announcement 24 November 2017 at 16h30

 

Kesko has applied for an injunction to prevent Mika Rautianen from starting at Tokmanni according to previously announced schedule

 

Tokmanni has been made aware that Kesko Group has applied for an injunction from the court requesting to prevent Mika Rautiainen from starting as Tokmanni Group Corporation's CEO or in any other position at Tokmanni Group or Tokmanni Plc before 18 January 2019, referring to the non-competition clause contained in Kesko's and Rautiainen's executive contract.

 

"I have discussed the matter with Rautiainen and his conception is that the executive contract between him and Kesko Grocery Trade did not contain any clause that would prevent him from starting in the position as Tokmanni's CEO in January 2018 as earlier announced. The injunction matter will be resolved in court and court ruling is expected before the yearend", says Harri Sivula, Chairman of Tokmanni's Board of Directors.

Tokmanni announced Mika Rautianen's appointment as CEO in July and that he would start in this position in January 2018, at the latest. Mika Rautiainen has held several managerial positions at Kesko since 1988. Since 2013 he has been Vice President Store operations for Kesko Grocery Trade.

 

Tokmanni Group Corporation

 

Board of Directors

 

 

For further information, please contact:

 

Harri Sivula,

Interim CEO, Chairman of the Board

Tel. +358 50 656 92

Harri.sivula@tokmanni.fi

 

Tokmanni in brief

Tokmanni is the largest general discount retailer in Finland measured by number of stores and revenue. In 2016, Tokmanni's revenue was EUR 776 million and on average it had approximately 3,200 employees. Tokmanni is the only nationwide general discount retailer in Finland, with 162 stores across Finland as at 31 December 2016.

 

Distribution:
Nasdaq Helsinki Ltd     
Main news media                      

 

 

 





This announcement is distributed by Nasdaq Corporate Solutions (One Liberty Plaza, 165 Broadway, New York, NY 10006. Tel: +1 212 401 8700. www.nasdaqomx.com) on behalf of Nasdaq Corporate Solutions clients. Source: Tokmanni Group Oyj, Isolammintie 1, Mäntsälä 04600, Finland
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