KONE Corporation: Changes in the KONE Executive Board and

KONE Corporation: Changes in the KONE Executive Board and organization

KONE Corporation, stock exchange release, March 3, 2016 at 09.45 a.m. EET

Noud Veeger has decided to leave KONE as of April, 2, 2016, to pursue other interests outside the company. Noud Veeger has served as Executive Vice President responsible for Central and North Europe since September 2014.

Noud Veeger has been employed by KONE since 1999. He has held a range of leadership roles at the company and has been a member of the Executive Board since 2004. The search for Noud Veeger's successor is in progress. In the interim, Klaus Cawén, Executive Vice President for M & A and Strategic Alliances, Legal Affairs, and Russia will head KONE's Central and North Europe area.

"I would like to thank Noud for his valuable contribution to KONE's significant growth and strengthened position in our industry over several years," says Henrik Ehrnrooth, President and CEO of KONE.

In addition, KONE's internal management structure for two of its geographical areas will change as of April 1, 2016. Pierre Liautaud, who has served as Executive Vice President for West and South Europe as well as Africa since 2011, will also assume responsibility for the Middle East area. This change will enable synergies between the Middle East and African markets and thus support KONE's growth strategy in both regions. Neeraj Sharma, Executive Vice President since 2014, will continue to lead the renewed Asia-Pacific area, which includes other markets in the Asia-Pacific region except for the Greater China area.

KONE's external reporting structure will remain unchanged with the three principal regions of the company consisting of the Europe, Middle East and Africa region, the Americas region, as well as the Asia-Pacific region.

"KONE has strong market positions across Asia-Pacific as well as in the Middle East and we are expanding our presence in Africa. The new structure enables an even better focus to further strengthen our positions in these important growth markets," says Henrik Ehrnrooth, President and CEO, KONE Corporation.

For more information, please contact:
Kerttu Tuomas, EVP, Human Resources, KONE Corporation, tel. +358 204 75 4373

Sender:

KONE Corporation

Henrik Ehrnrooth
President and CEO

Kerttu Tuomas
Executive Vice President
Human Resources

About KONE
KONE is one of the global leaders in the elevator and escalator industry. KONE's objective is to offer the best People Flow® experience by developing and delivering solutions that enable people to move smoothly, safely, comfortably and without waiting in buildings in an increasingly urbanizing environment. KONE provides industry-leading elevators, escalators, automatic building doors and integrated solutions to enhance the People Flow in and between buildings. KONE's services cover the entire lifetime of a building, from the design phase to maintenance, repairs and modernization solutions. In 2015, KONE had annual net sales of EUR 8.6 billion, and at the end of the year close to 50,000 employees. KONE class B shares are listed on the Nasdaq Helsinki Ltd. in Finland.