Su-Jou Kim makes management changes at STX Finland

The acting President and Chairman of STX Finland, Mr. Su-Jou Kim, has decided to reorganize STX Finland´s management group to improve the efficiency, synergies and competitiveness of STX Finland. The shake-up comes two weeks after Mr. Kim, who is CEO of STX Europe, announced the departure of Juha Heikinheimo  as President.

At the time, the company said that STX Finland is going through very challenging times – in particular at the Turku shipyard – following the delivery of the giant cruise ship “Allure of the Seas” in October 2010.

STX Finland and the Turku shipyard have not been successful in getting sufficient new orders to utilize Turku’s huge capacity for building cruise ships.

In the reorganization announced today, Mr. Jyrki Heinimaa has been appointed Executive Vice President and CFO (Chief Financal Officer) of STX Finland Oy. He will be responsible for the following functions: accounting and finance, communication, synergies and strategy. In addition Mr. Heinimaa is responsible for new business areas such as wind power. Mr Heinimaa has been with STX Finland in various management positions for 15 years.

Mr. Timo Suistio has been appointed Executive Vice President and COO (Chief Operating Officer) of STX Finland Oy and also shipyard director of the STX Rauma Shipyard. Mr. Suistio will be responsible for the following functions of STX Turku Shipyard and STX Rauma Shipyard: sales, purchasing, design and production. Mr Suistio has been with STX Finland for 30 years, including 4 years as head of the STX Rauma Shipyard.

Mr. Heinimaa and Mr. Suistio bring with them broad experience, strong knowledge and continuity related to STX Finland and its business. They will both report to Mr Su-Jou Kim. The appointments are effective May 1, 2011.

May 4, 2011