Picodeon Reinforces its Management

March, 3, 2009

Picodeon Oy Ltd has appointed Jukka Häyrynen (M.Sc.(Tech), MBA) as the new CEO. Jukka has worked for the past 11 years as Partner at venture capital firm Eqvitec Partners Oy. Before that Jukka has worked as Director at SITRA and at various positions at VTT, Technical Research Centre of Finland.

Dr. Asko Vehanen, who has served as interim CEO of Picodeon Ltd Oy from October 2008 shall continue to contribute in Picodeon’s strategic planning and fund raising projects. He shall join Picodeon Board of Directors.

Asko continues his duties as the CEO of Picodeon’s subsidiary company Carbodeon Ltd Oy.

The Boards of Directors of both Picodeon and Carbodeon are confident that these appointments will accelerate commercialization of the Picodeon’s coating technology and Carbodeon’s new materials businesses, respectively. The two companies are actively looking for the next round of financing in the near future.

For additional information see www.picodeon.com and www.carbodeon.com or contact:

Jukka Häyrynen Phone +358 500 448 826,
jukka.hayrynen(at)picodeon.com
 
and
 
Asko Vehanen Phone +358 40 556 6765,
asko.vehanen(at)carbodeon.com