Inside information: Henrica Ginström appointed as Citycon's new CEO

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13 Mar, 2024, 11:34 GMT

CITYCON OYJ Inside Information 13 March 2024 at 13:20 hrs

HELSINKI, March 13, 2024 /PRNewswire/ -- The Board of Directors of Citycon Oyj has appointed Henrica Ginström as Citycon's new CEO as of April 1, 2024. Ginström (Finnish citizen) has been with Citycon for almost 13 years since 2011 and is currently serving as a Chief Operating Officer, prior to which she served as the company's Commercial Director in Norway and Vice President of Investor Relations and Communications. She holds a master's degree in Technology from Aalto University School of Science and Technology in Helsinki and a second master's degree in Economics from the Hanken School of Economics, also in Helsinki.

Ginström is replacing Citycon's current CEO F. Scott Ball, who has served in his position since 2019 and is stepping down based on mutual agreement on April 1, 2024. Mr. Ball continues to serve as a board member of the company.

Chaim Katzman, Chairman of the Board of Directors, Citycon, says: "I would like to thank Scott for his valuable contribution to Citycon for the past years. Among other achievements we are pleased that Scott has developed a cadre of talented new leaders at Citycon."

"I am pleased to have Henrica Ginström as the new CEO of Citycon. Henrica has extensive experience and in-depth understanding of our operations, and we believe she is the right person to lead the company in the fast-changing retail market environment. I am confident that together with the talented employees of Citycon, Henrica will be able to create value and take the company to the next level for the benefit of all stakeholders." Mr. Katzman added.

Henrica Ginström, incoming CEO, Citycon, says: "I am excited for this opportunity to serve as the next CEO of Citycon. It has been an honor to work for Citycon for the past 13 years and I am looking forward to building the company's future together with the strong team. We remain committed to the company's strategy of focusing on high-quality assets in strong, growing urban markets in the major Nordic cities, and most importantly creating value to all our stakeholders."

F. Scott Ball, outgoing CEO, Citycon, says: "I would like to thank the company, the employees and the board for the great co-operation during my tenure with Citycon. I feel privileged and sincerely grateful to have worked with such a team of passionate professionals. Henrica has worked closely with me during my tenure, and I am confident that Henrica is the right person to this role and with her Citycon is well-positioned to further build on what has been achieved during the past five years."

Professional biography of Henrica Ginström is available on Citycon's website: https://www.citycon.com

CITYCON OYJ

Further information:
Sakari Järvelä
Chief Financial Officer
Tel. +358 50 387 8180
sakari.jarvela@citycon.com

For media, please contact:
Pia Grahn
Communications Director
pia.grahn@citycon.com
+46 73 037 1722

Citycon is a leading owner, manager and developer of mixed-use real estate featuring modern, necessity-based retail with residential, office and municipal service spaces that enhance the communities in which they operate. Citycon is committed to sustainable property management in the Nordic region with assets that total approximately EUR 4.0 billion. Our centres are located in urban hubs in the heart of vibrant communities with direct connections to public transport and anchored by grocery, healthcare and other services that cater to the everyday needs of customers.

Citycon has investment-grade credit rating from Standard & Poor's (BBB-). Citycon's shares are listed on Nasdaq Helsinki Ltd.

www.citycon.com