The composition of Sponda Plc's organization and Executive Board will be changed as of 1 January 2009. The Logistics Properties and the Office and Retail Properties business units will be combined, and the name of the new business unit will be Investment Properties. The head of the new business unit will be Ossi Hynynen, who is currently responsible for the Office and Retail Properties business unit.
Also the name of the Russia and the Baltic Countries business unit will be changed, and as of 1 January 2009 the name of the business unit will be Russia. Sponda has looked into the Baltic countries' investment market, and the Board of Directors has decided that the Baltic countries will not be one of Sponda's strategic investment markets in the future.
From the beginning of the year 2009 Sponda will be organized into four business units: Investment Properties, Property Development, Russia and Real Estate Funds.
With effect from 1 January 2009, the members of Sponda's Executive Board will be:
- Kari Inkinen, President and CEO