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Inside information: Kreate agrees that President and CEO Timo Vikström will step down by the end of 2027; search for a new President and CEO to begin
22.9.2026 17:00:09 EEST | Kreate Group Oyj | Changes board/management/auditors
The Board of Directors of Kreate Group Plc (“Kreate” or the “Company”) and President and CEO Timo Vikström have agreed to terminate Vikström’s service agreement, and the Company will begin the search for a new Group President and CEO. Vikström is expected to continue in his position until 31 December 2027. In addition, the Board of Directors and Vikström have agreed on changes to the President and CEO’s share-based incentive schemes. The changes deviate from Kreate’s Remuneration Policy adopted in 2025 and approved by the 2025 Annual General Meeting. In accordance with the Remuneration Policy, the change of President and CEO constitutes the grounds for the deviation.
“Timo Vikström has successfully led Kreate for ten years. The aim of the agreed arrangement is for him to continue in his position until the end of 2027, enabling a controlled and smooth transition to a new President and CEO. Kreate has grown into a new size category, and we are seeking a President and CEO with the capabilities to lead the Group through its next phase of development and support its growth in the Nordic countries,” says Petri Rignell, Chair of the Board of Directors.
“Kreate is a great company, and I am committed to leading Kreate fully throughout the transition period and supporting the new President and CEO as they take up their position. I am leaving the company at my own initiative, and after this role, I plan to step away from operational leadership positions and devote more time to my personal life as well as board and advisory roles,” says Timo Vikström, President and CEO.
Changes to the President and CEO’s incentive schemes
Kreate’s Board of Directors and Timo Vikström have agreed on changes to the President and CEO’s share-based incentive schemes so that the President and CEO will be subject to an accelerated schedule regarding the annual performance bonus agreements and the management share-based incentive scheme.
The deviating terms will apply only if Vikström remains in his position until 31 December 2027, or if the Company terminates the President and CEO’s service agreement without grounds for termination as referred to in the agreement, or releases him from his duties without him being prevented from performing them. In all other respects, the incentive schemes will be subject to their terms and conditions in force at the relevant time.
Further information on the remuneration of the President and CEO and the deviation from the Remuneration Policy will be provided on the Company’s website at https://kreategroup.fi/en/governance/remuneration/ and in Kreate’s Remuneration Report for 2026, which will be published in week 9 of 2027.
Kreate Group Plc
Board of Directors
Distribution: Nasdaq Helsinki, key media, kreategroup.fi/en
Contacts
- Petri Rignell, Chair of the Board of Directors, Kreate Group Oyj, +358 40 505 2404, petri@rignell.fi
About Kreate Group Oyj
Kreate Group is one of Finland’s leading infrastructure construction companies. The company builds bridges, railways, roads, and tunnels, and provides solutions for environmental construction, foundation and specialist foundation engineering, circular economy, and geotechnical needs. As a specialist in demanding projects, Kreate focuses on comprehensive quality and cost-effectiveness. The Group’s revenue in 2025 was EUR 315 million and the company employs over 800 people. Kreate Group is listed on Nasdaq Helsinki.