CapMan

Heikki Westerlund has been appointed CEO of CapMan, succeeding current CEO Ari Tolppanen. Westerlund was previously a senior partner of CapMan and has been deputy CEO and head of the firm's buyout team for the last three years. Westerlund, who has a total of 15 years' experience as a private equity investor, joined CapMan in 1994. In addition, Olli Liitola has been named Deputy CEO as of 31 March 2005. Tuomo Raasio, has succeeded Westerlund as head of the firm's buyout business. Furthermore, Ari Tolppanen has been elected to the position of chairman of the board of directors and Teuvo Salminen has been appointed to vice chairman. The board now consists of Tapio Hintikka, Lennart Jacobsson, Lauri Koivusalo, Teuvo Salminen and Ari Tolppanen.

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