Harvia announces organizational and management changes

Harvia Plc                                      Stock Exchange Release           17 October 2023 at 2:00 p.m. EEST

Harvia is changing its organizational structure and making changes to its Group Management Team. The new organization consists of four geographical sales regions: North America, Northern Europe, Continental Europe, and Asia-Pacific-MEA (Middle East & Africa). It will also encompass five Group functions: Marketing & Brand, Products & Solutions, Innovation & Technology, Operations, as well as Support functions. Additionally, there will be a Management Team position for the Head of EOS Brand and Products. The new organizational structure will be effective as of 1 January 2024.

The new sales regions’ aim is to maximize Harvia Group’s total business in each geography and grow profitably in line with the Group’s strategy and set targets. The regions will have a deeper understanding of the local consumer needs, culture, and competitive landscape. The goal is to sharpen Harvia’s product and service offering, marketing and commercial execution in the key markets. The four regions will also be responsible for all customer facing activities in their respective area.

The role of the group functions is to drive and leverage best practices and synergies across the group in the areas where it matters the most. The new Head of EOS Brand and Products will help to ensure distinct and exciting identity for Harvia Group’s highest-end solutions that are sold under the brand EOS.

“With these changes, we will increase customer and market orientation and drive our organic growth,” says Harvia CEO Matias Järnefelt. “Additionally, we want to strengthen our innovation and differentiation capabilities and better leverage our synergies across the Group. This new organizational structure will also create a solid platform for potential future acquisitions,” Järnefelt concludes.

As part of the organizational change, the following Management Team appointments will be made as of 1 January 2024:

Markus Wörmanseder will be appointed as Head of Products and Solutions. Currently, Markus is heading Harvia’s sales in Central Europe and will continue in this role until his successor is nominated.

Päivi Juolahti will be appointed as Head of Marketing and Brands (currently Vice President, Innovation & Marketing).

Timo Harvia will be appointed as Head of Innovation and Technology (currently Chief Technology Officer). He will serve in the new role on an interim basis until his successor is nominated, after which he will leave his position in the Management Team and continue in the Group as a senior advisor.

Anssi Pelkonen will be appointed as Head of Region Northern Europe (currently Sales Director, Finland). Tomas Hjälmeby, current Sales Director, Scandinavia and a member of Harvia’s Management Team, will step down from the Management Team and report to Anssi while continuing as Sales Director, Scandinavia.

David Ahonen will be appointed as Head of Region Asia-Pacific-MEA (currently Export Director).

Mika Suoja will be appointed as Head of Operations (currently Vice President, Operations & Sourcing) and will be responsible for Harvia Group’s manufacturing network and supply chain.

Matias Järnefelt will continue as the Group CEO. Ari Vesterinen will continue as the Group CFO with responsibility for the Support functions.

As announced earlier, Rainer Kunz, Managing Director of EOS Group and a member of Harvia’s Management Team, will be leaving Harvia at the end of March 2024. He will continue to lead EOS until his departure. Rainer’s successor will be recruited to a new role, Head of EOS Brand and Products.

An external search for Head of Region North America has been initiated. Until this appointment is made, the current sales responsibilities for North America will remain.

As of 1 January 2024, Harvia’s Management Team will consist of:

• Matias Järnefelt, Group CEO
• Ari Vesterinen, Group CFO
• Mika Suoja, Head of Operations
• Markus Wörmanseder, Head of Products and Solutions and Head of Region Continental Europe (interim)
• Päivi Juolahti, Head of Marketing and Brands
• Timo Harvia, Head of Innovation and Technology (interim)
• Anssi Pelkonen, Head of Region Northern Europe
• David Ahonen, Head of Region Asia-Pacific-MEA
• Rainer Kunz, Managing Director of EOS Group (interim)

The new organizational structure will also be reflected in Harvia’s financial reporting of revenue by market area as of 1 January 2024.

Harvia will publish its January–September interim report on 2 November 2023. Due to the silent period, Harvia will not give any further comments on this organizational change before publishing the interim report. Harvia will hold a webcast conference on the day of the results release. The participants have an opportunity to ask questions during the webcast.

HARVIA Plc
Matias Järnefelt
CEO

Further information:

Matias Järnefelt, CEO, tel. +358 40 5056 080
Ari Vesterinen, CFO, tel. +358 40 5050 440

Harvia is one of the leading companies operating in the sauna and spa market globally, as measured by revenue. Harvia’s brands and product portfolio are well known in the market, and the company’s comprehensive product portfolio strives to meet the needs of the international sauna and spa market of both private and professional customers.

Harvia’s revenue totaled EUR 172.4 million in 2022. Harvia Group employs more than 600 professionals in Finland, China and Hong Kong, Romania, Austria, United States, Germany and Estonia. The company is headquartered in Muurame, Finland, adjacent to its largest sauna and sauna component manufacturing facility.

Read more: https://harviagroup.com

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