Restamax Plc: RESTAMAX RENEWS ITS ORGANISATION AND RESTRUCTURES ITS EXECUTIVE TEAM

Restamax Plc

STOCK EXCHANGE RELEASE 22 January 2018, 9:59

RESTAMAX RENEWS ITS ORGANISATION AND RESTRUCTURES ITS EXECUTIVE TEAM

Restamax Plc renews its organisation structure and the composition of its Executive Team in line with its strategy. In future, Restamax's operational organisation shall be divided into three business units: Nightclubs, Food restaurants and Pubs&Entertainment.

The Nightclubs and Pubs&Entertainment business units will be headed by Paul Meli. The Food restaurants unit will be run by Tero Kaikkonen.

The role of sales and marketing will be strengthened further in the organisation by introducing the position of a Chief Commercial Officer (CCO) responsible for the development of sales and marketing according to the Group strategy. The CCO will be a member of the Executive Team. The appointment of the CCO will be announced when the recruitment has been completed.    

Development projects and programme services will be brought under one distinct umbrella headed by Perttu Pesonen.

Eero Aho is appointed a Chief Procurement Officer (CPO), a new role established to strengthen purchasing operations and the efficiency thereof.

CEO Juha Helminen:

"Our new long-term strategic goals for 2018-2020 were released in December 2017. The new leadership reorganisation supports our strategic objectives. By restructuring our business units, we are able to exploit the synergies between our different restaurants even better than before. Changes in alcohol laws and opening hours are taken into account by separating pubs and entertainment into an own business unit.

The new CCO will add to our commercial expertise and be in charge of sales and marketing. We will also invest in staff training and customer service, and expand the existing Restamax Academy both content and profile wise. Efficiency continues to play an important role in our operations. The new CPO role will make procurement processes more efficient without sacrificing our high quality standards.

We will also make adjustments to our compensation plan and create a longer term loyalty scheme in line with our strategic objectives. The loyalty scheme shall be introduced in Q2 2018 at the latest. I strongly believe that these changes will contribute to the Group's performance, customer service and employee satisfaction, and make our company image even better."

Responsibilities of some of the Executive Team members will also be reallocated. From 22 January 2018, Restamax's Executive Team will consist of the following members:

Juha Helminen, CEO
Jarno Suominen, CFO
Paul Meli, CBO, Nightclubs and Pubs&Entertainment (acting)
Tero Kaikkonen, CBO, Food restaurants
Perttu Pesonen, Development Director
Eero Aho, CPO
Tanja Virtanen, Product Line Director, Premium concept restaurants
Miko Helander, Product Line Director, Youth night clubs

Additional information:
Juha Helminen, CEO, Restamax Plc, tel. +358 40 535 5560
Jarno Suominen, CFO, Restamax Plc, tel. +358 +358 40 721 5655

Distribution:
NASDAQ Helsinki
Major media
www.restamax.fi

Restamax Plc is a Finnish restaurant business and labour hire services group established in 1996. The company, which was listed on NASDAQ Helsinki in 2013 and became the first Finnish listed restaurant company, has continued to grow strongly throughout its history. The Group companies include more than 130 restaurants, nightclubs and entertainment centres all over Finland. Well-known restaurant concepts of the Group include Stefan's Steakhouse, Viihdemaailma Ilona, Classic American Diner and Colorado Bar & Grill. In 2016, Restamax Plc's turnover was MEUR 130.1 and EBITDA MEUR 19.4. Depending on the season, the Group employs some 2,000 persons, converted into full-time employees. Smile Henkilöstöpalvelut Oy, Restamax's subsidiary, employs more than 8,000 people every month all over Finland.

Restamax company site: www.restamax.fi, Restamax consumer site: www.ravintola.fi, Smile Henkilöstöpalvelut Oy: www.smilepalvelut.fi