Press Release
For publication 16 April 2007

SOK's new CEO and organisation

SOK's new Corporate Management Team began their work on August. At the same time new Chief Executive Arto Hiltunen (49) took up his duties after Professor Kari Neilimo retired 31st of July 2007.

Managing Director Arto Hiltunen was born in Kajaani, Finland on 17 January 1958. He took his M.Sc. (Econ.) degree from the Helsinki School of Economics in 1979. Arto Hiltunen has worked for the S Group since 1980. After going through S Group's commercial field training, he worked in management positions in marketing at SOK from 1982 to 1985. His main posts have been as manager of the department store of Cooperative Society Osla in Porvoo 1985-1989, management positions with the Alepa grocery chain 1990-1993 and Managing Director of Ässä Partners Oy 1993-1997. Arto Hiltunen was Managing Director of Helsinki Cooperative Society HOK 1998-2003 and has been Managing Director of Helsinki Cooperative Society Elanto since 2004.

Arto Hiltunen was a member of SOK's Supervisory Board from 1998 to 1999 and a member of SOK's Executive Board from 2000 to 2001. He was re-elected a member as from 2003. Apart from the S Group, he has held a number of positions of trust with other companies, notably, chairmanship of Helsinki Region Chamber of Commerce and a seat on the Board of Directors of Ilmarinen Mutual Pension Insurance Company.

The Corporate Management Group's task is to support the CEO in the strategic management of SOK Corporation and the S Group. SOK Corporation's Corporate Management Group comprises now of five people: SOK Corporation's own business units will be run by Senior Vice President Antti Sippola (51). Previously, Mr Sippola headed SOK's Supermarket Trade business area. The chain management and sourcing functions for the S Group's business units have been organised into a single unit headed by Senior Vice President Risto Pyykönen (56). Mr Pyykönen has previously been managing director of Inex Partners Oy, the S Group's grocery sourcing company. The new Senior Vice President, Administrative Division, will be Mr Jari Annala (42), who has previously served as SOK's Senior Vice President, Finance. The Senior Vice President, Development, will be Mr Harri Miettinen (45). Ms Suso Kolesnik (45), will continue as Senior Vice President, Communications and Publications.

"A principal aim of the new organisational model is to increase the synergy between the S Group's chains and to develop the business units on the basis of customer knowledge. SOK will step up the process of centralising the operating companies under the direction of a single senior vice president and will develop operations with a special focus on Finland's nearby areas," observes Arto Hiltunen, the incoming CEO.

The S Group is a network of Finnish businesses in the retail trade and service sector with around 1,400 locations in Finland. It comprises cooperative enterprises and Suomen Osuuskauppojen Keskuskunta (SOK) and its subsidiaries; together they provide services and benefits for members and other customers. In Finland, the S Group is the market leader in the grocery trade. The cooperative enterprise is engaged in the grocery trade and it also operates hotels, restaurants and grocery shops in the Baltic countries and St Petersburg, Russia. S Group is also opening its own bank called S Bank in October.

SOK Corporation's new organisation chart, press photographs of the members of the new Corporate Management Team and CV:s are available through the S Group's Media Services at the address http://mediapalvelu.s-kanava.fi/en_GB/

Additional information: Mr Arto Hiltunen, Chairman and CEO, tel. +358 107 680 200

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