Teleste appoints Esa Harju as CEO

TELESTE CORPORATION   STOCK EXCHANGE RELEASE   3.11.2021 at 18:40 EET

Teleste appoints Esa Harju as CEO

Teleste's Board of Directors has appointed Mr. Esa Harju (born 1967) as the new President and CEO of Teleste Corporation. Esa Harju will take up his post as CEO on 1 January 2022. Teleste's current CEO, Mr. Jukka Rinnevaara, will retire from the company in 2022, in accordance with his contract, after a transition period.

Esa Harju has been a member of Teleste's Management Group since 2016 in the role of Senior Vice President, Video Security and Information. Before joining Teleste, Esa was the CEO of Ixonos Plc and, prior to that, the CEO of Nokia Siemens Networks Finland Oy. He has also held various international executive positions at Nokia. He holds a M.Sc. Degree in Engineering.

“I want to wish Esa Harju the best of luck and success in his role as our President and CEO. Esa has extensive experience in the technology sector and international business. Teleste’s primary markets are in the middle of a technological transformation and we are in the process of opening up new markets, especially in North America. I'm convinced that, under Esa's leadership, Teleste will continue its renewal and strategic growth,” says Mr. Timo Luukkainen, Chairman of Teleste's Board of Directors.

"I'm proud and motivated to become Teleste's CEO," Esa Harju says. “Teleste has a strong market position in its business segments, including European market leadership in cable network technologies as well as significant growth in public transport and security sector. While there are surely many challenges ahead, we also see significant growth opportunities in line with our strategy. Teleste has world-class expertise and I have full confidence in our ability to create shareholder value through growth,” Harju adds.

Jukka Rinnevaara will step down from his role as CEO at the end of 2021. His contractual age of retirement is 60 years, which he reached last spring. Jukka has agreed to complete certain strategic projects specified by the Board of Directors and, during the early part of next year, he will focus on supporting the smooth transition of CEO duties to Esa. “I'm very pleased that the Board of Directors has chosen Esa as the new CEO. He has everything it takes to achieve success in this position,” Rinnevaara says.

“Jukka Rinnevaara is a highly regarded leader among Teleste's employees, Board of Directors, shareholders and other stakeholders. Teleste has grown stronger and achieved significant growth during his long tenure as CEO. Just like mobile telecommunications operators have transitioned from 2G to 3G, 4G and now to 5G networks, so have the cable TV and broadband operators seen transition and evolution of several technology generations. During Jukka's time in his position, we have navigated several technology cycles while strengthening our position as Europe's leading technology company in our operating segments. On behalf of the Board of Directors and the entire company, I want to take this opportunity to thank Jukka for his long and very valuable contribution to Teleste and wish him the best of luck and success in the future”, Timo Luukkainen concludes.

Inquiries for more information and interview requests:

Hannele Ahlroos

Executive Assistant

Email:

Tel. +358 40 721 2900