Changes in Innofactor Plc management

24.01.2014 00:00

Innofactor Plc Stock Exchange Release January 24, 2014, at 09:00 Finnish time

Innofactor Plc’s CFO Mikko Karvinen has resigned from the company yesterday on January 23, 2014, at his own request. The Board of Directors addressed the topic in their meeting that took place in the evening of January 23, 2014. The Board and Karvinen agreed that Karvinen will continue in his role until April 30, 2014.

Innofactor will start a public recruitment process today, January 24, 2014. The recruitment advertisement will posted without delay on the company’s web site. The target is to select the new CFO during February 2014, so that he/she would be able to start in the role as of May 1, 2014.

“I wish to thank Mikko Karvinen for the significant work he has done while being employed with Innofactor from 2012 to 2014. During this period, many major M&A and financial arrangements have been carried out in which Mikko has had a central role. In no way do we wish to see Mikko leave, but I also understand his personal reasoning behind the decision. Innofactor is a very interesting company that is growing and becoming more international. I trust we will find a very compatible person to continue Mikko’s work,” says Sami Ensio, CEO of Innofactor.

”I wish to express my warmest thanks to Innofactor’s Board of Directors, CEO, and the whole personnel for having had this unique chance to be part of the fastest growing technology company of the Helsinki stock exchange and the most successful listed company of 2013. It has been a pleasure to work and grow together with you; this is a good place for both parties to move on toward new opportunities,” notes Mikko Karvinen, Innofactor’s CFO.

Espoo, January 24, 2014

INNOFACTOR PLC

Sami Ensio, CEO

Additional information:

Sami Ensio, CEO

Innofactor Plc

Tel. +358 50 584 2029

Distribution:

NASDAQ OMX Helsinki

Principal media

www.innofactor.com

Innofactor is one of the leading software providers focused on Microsoft solutions in the Nordic countries. Innofactor delivers to its customers IT projects as a system integrator and develops its own software products and services. The focus area in its own product development is Microsoft Azure based cloud solutions. Innofactor's customers include over 1,000 companies and government organizations in Finland, Denmark, Sweden and elsewhere in Europe. In its operation, Innofactor strives for long-term customer relationships. Innofactor has over 400 motivated and skilled employees in several locations in Finland, Denmark, Sweden and Russia. The five-year growth of Innofactor's net sales in 2008 to 2012 has been about 35 percent annually. Innofactor is the fastest growing technology company in the Finnish stock exchange. The Innofactor Plc share is listed in the technology section of the main list of NASDAQ OMX Helsinki Oy.