Citycon appoints a new Chief Financial Officer

CITYCON OYJ  Stock Exchange Release  22 June 2021 at 16.45 hrs

HELSINKI, June 22, 2021 /PRNewswire/ -- Bret D. McLeod has been appointed Citycon Oyj's Chief Financial Officer (CFO) and member of the Corporate Management Committee following the planned retirement of the current CFO, Mr. Eero Sihvonen.

Mr. McLeod (US and Canadian citizen, born 1982, MBA) will join Citycon´s Corporate Management Committee on August 1, 2021 and assume the full responsibility as CFO on January 1, 2022. Mr, McLeod has over 17 years of experience in real estate. Prior to joining Citycon, he was the Executive Vice President, Chief Financial Officer at Lakewood Hotel Trust, a firm he co-founded.  Prior to Lakewood, he served at Host Hotels & Resorts, Inc., the largest lodging real estate investment trust, most recently as Senior Vice President, Treasurer, Head of Corporate Strategy and Investor Relations.
 
Mr. McLeod will succeed the current Chief Financial Officer, Eero Sihvonen, who has served in his position since 2005 and will transfer his duties on December 31, 2021 as a result of the planned retirement. He will stay as a senior advisor to the company until June 30, 2022.

Eero Sihvonen, CFO: "I would like to thank the company, the employees, the management and the board for the great co-operation and trust during my long tenure with Citycon. I have gladly promised to fully participate in ensuring a smooth transfer of responsibilities and being available to the company in an advisory capacity. It is naturally with mixed feelings that I will be leaving Citycon after all these years, particularly at such an interesting strategic phase. On the other hand, I am also very much looking forward to this next stage of my life."

F. Scott Ball, CEO: "We would like to thank Eero Sihvonen for his valuable contribution to Citycon for almost 17 years. Eero has been a great leader and role model for all Cityconners, as well as a highly respected financial professional amongst both internal and external stakeholders. We are very pleased with this arrangement, which allows a smooth transformation of duties and brings continuity to our business. At the same time, we would like to warmly welcome Bret to Citycon. His broad commercial real estate expertise and strong track record in finance, capital markets, and strategy will be a valuable addition to Citycon's management team. As an experienced leader he will be supporting developing the organization in line with Citycon's strategy.

The professional biography of Bret D. McLeod is available on Citycon's website: https://www.citycon.com/


CITYCON OYJ

For further information, please contact:
Laura Jauhiainen
Vice President, Strategy and Investor Relations
Tel. +358 40 823 9497
laura.jauhiainen@citycon.com

Citycon is a leading owner, manager and developer of mixed-use centres for urban living including retail, office space and housing. We are committed to sustainable property management in the Nordic region with assets that total approximately EUR 4.4 billion. Our centres are located in urban hubs with a direct connection to public transport. Placed in the heart of communities, our centres are anchored by groceries, healthcare and services to cater for the everyday needs of customers.

Citycon has investment-grade credit ratings from Moody's (Baa3), Fitch (BBB-) and Standard & Poor's (BBB-). Citycon Oyj's share is listed in Nasdaq Helsinki.

www.citycon.com

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