EXEL COMPOSITES PLC – – – STOCK EXCHANGE RELEASE – – – 7 SEPTEMBER 2022 at 13:00 EET

The Board of Directors of Exel Composites Plc has appointed Jouni Heinonen, currently member of the Board of Directors, as interim President and CEO of the company as of 1 October 2022. Exel Composites announced on 12 May 2022, that the current President and CEO Riku Kytömäki will leave Exel to assume a new position outside the company. Kytömäki will continue as an executive advisor in the company until the end of October in order to ensure a smooth transfer of duties.

Jouni Heinonen (born in 1960, Finnish citizen) was elected member of the Board of Directors of Exel Composites by the Annual General Meeting on 25 March 2022. Heinonen is currently Managing Partner at the consulting company HVD Partners in Switzerland. Previously he has served, among others, as the CEO of the Swiss composites manufacturer Gurit. He holds a Master’s degree in Mechanical Engineering.

“I am very happy that Jouni will take on the responsibility as interim President and CEO of Exel Composites as the recruitment process continues as planned. With his background and extensive track record within the composites industry Jouni is an excellent fit for the position until a permanent President and CEO is appointed”, Chairman of the Board of Directors Reima Kerttula says.

In addition to his role as interim President and CEO, Heinonen will remain a member of the Board of Directors of Exel Composites, excluding himself in matters concerning his role as President and CEO.

Vantaa, 7 September 2022

Exel Composites Plc
Board of Directors