Change in Orion Group Executive Management Board as of 1 Jan 2011
ORION CORPORATION STOCK EXCHANGE RELEASE 24 Sept 2010 AT 01.05 PM EET
Mrs. Riitta Vartiainen, Senior Vice President responsible for the Business Development and Support line function of the Orion Group and member of the Executive Management Board of the Orion Group, will step down from the Executive Management Board as of 1 January 2011 and retire in February 2011.
In this connection, Orion will implement an organizational change in which the departments of the Business Development and Support line function are transferred to other organizations of the Group as of 1 January 2011.
Timo Lappalainen, President and CEO, says:
"Riitta Vartiainen has served the Orion Group since 1988, having successfully headed a variety of operations in the company, most recently the Business Development and Support function. New operations for Orion have been created under her leadership, among them latest the India Liaison Office serving all Orion organizations. I'm pleased to wish all the best for Riitta in her upcoming new phase of life."
Timo Lappalainen Olli Huotari
President and CEO SVP, Corporate Functions
Timo Lappalainen, President and CEO, phone +358 50 966 3692
Orionintie 1A, FI-02200 Espoo
Orion is an innovative European R&D-based pharmaceutical and diagnostic company with a special emphasis on developing medicinal treatments and diagnostic tests for global markets. Orion develops, manufactures and markets human and veterinary pharmaceuticals, active pharmaceutical ingredients and diagnostic tests. Orion's pharmaceutical R&D focuses on the following core therapy areas: central nervous system drugs, cancer and critical care drugs, and Easyhaler® pulmonary drugs.
The Group's net sales in 2009 amounted to EUR 772 million. The Company invested EUR 95 million in research and development. At the end of 2009, the Group had a total of 3,100 employees, of whom 2,500 worked in Finland and 600 in other European countries. Orion's A and B shares are listed on NASDAQ OMX Helsinki.