Sitowise Group Plc Stock Exchange Release 3 August 2023 at 10.00 a.m. (EEST) 

Timo Räikkönen to lead Sitowise’s Buildings business area

Timo Räikkönen has been appointed as Executive Vice President for Buildings business area and member of Sitowise’s Group Management Team.

Räikkönen has strong international experience in client-oriented business development and management from Destia, YIT, Ahlstrom and McKinsey & Company. He joins Sitowise from the position of Executive Vice President of Destia's Urban Development and Design Services. Räikkönen holds a Master of Science in Industrial Management from Helsinki University of Technology and a Master of Science in Economics and Business Administration from the Helsinki School of Economics.

– It's great to have such a versatile and international expert as Timo to join our team. He has strong experience in business management and its development from a strategic perspective. In the Buildings business area, the market situation has been challenging due to the downturn of the construction industry. Finding and implementing solutions in such situation requires Timo's ability to see and develop the business together with Sitowise professionals, and with a particularly strong focus on client perspective, says Heikki Haasmaa, CEO of Sitowise.

Sitowise’s new vision for 2025, Redefining Smartness in Cities, refers to need to develop future living environments so that they respond to major global changes, such as the growing repair backlog and the climate crisis. Finding solutions to complex problems requires cooperation with clients, innovations, and the development of new services.

– I am very excited about Sitowise's future goals. I believe that my experience in both construction and design industry and putting strategy into practice will bring added value in the management and development of Sitowise's Buildings business. Sustainable construction requires strong cooperation, and I believe that it is still possible to strengthen the critical link between design and construction. For me, understanding client needs is a starting point for everything, and I believe that together with Sitowise's experts, we will succeed in responding to both the current market situation and future opportunities, Timo Räikkönen says.

Räikkönen will start in his position in February 2024 at the latest.

CV – Timo Räikkönen

Year of birth 1973
Master of Science in Industrial Management & Master of Science in Economics
Finnish citizen

Primary career

06/2019 – Destia Oy, Executive Vice President, Urban Development and Design services division. Additionally, Head of Group strategy, Customer experience and Communications functions.

11/2012 –03/2019
YIT, Vice President, Commercial Development and Marketing, Business Premises, Infrastructure and Partnership Properties segments

01/2004 – 10/2012 Ahlstrom Group, various positions including Head of Group’s Supply Chain and Financial Development, Product Line Director Abrasive and Cable Papers (Osnabrück, Germany), Group Strategy and Business Development Director

08/1999-11/2003 McKinsey & Company, Management Consultant

For more information, please contact

Heikki Haasmaa, CEO, puh. +358 50 304 7765
Sitowisen mediadesk,, +358 44 427 9434

About Sitowise

Sitowise is a Nordic expert in the built environment with strong focus on digitality. We provide design and consulting knowhow to enable more sustainable and smarter urban development as well as smooth transportation. Sitowise offers services related to real estate and buildings, infrastructure, and digital solutions both in Finland and in Sweden. Global megatrends drive huge changes that require a re-evaluation of the smartness in the built environment – therefore we have set our vision to be Redefining Smartness in Cities. The Group's net sales were EUR 204 million in 2022 and the company employs more than 2,200 experts. Sitowise Group Plc is listed on Nasdaq Helsinki under the trading symbol SITOWS.