Changes in Basware's Executive Team

28 januari 2013 Basware Corporation, stock exchange release, January 28, 2013, at 13:00 Changes in Basware's Executive Team Basware is strengthening its sales organization and has established global sales units specializing in large companies, SMBs, and partner channels. Kari Aarvala, M.Sc.(Econ.), has been appointed as Senior Vice President, Global Sales, and member of the Executive Team as of April 8, 2013. Mr. Aarvala will report to Esa Tihilä, CEO, Basware Corporation. During his 25-year career, Kari Aarvala has held responsible sales and marketing executive and specialist positions in the software and information and communications technology sector in Finland, the United Kingdom, Spain, and the Czech Republic. Aarvala has been employed by SAP since 2002, most recently as Chief Operating Officer in SAP Central and Eastern Europe. Aarvala has also worked as SAP's Nordic marketing director as well as he has been in charge of the mid-market sector at SAP Finland. Before this, Aarvala has also been responsible for sales and marketing at Nixu Oy and Tekla. Besides a master's degree in economics, Aarvala has also a Vocational Qualification in Business Information Technology. "Basware has revised its sales and marketing model in order to achieve accelerated global growth by segmenting buyer and supplier customers of all sizes in accordance with its strategy," says Esa Tihilä, CEO, Basware Corporation. "With his diverse professional experience and competence in global sales and sales management, Kari Aarvala will support the company's efforts to significantly increase our sales volume, both in direct sales and in our partner channels all over the world." Kari Aarvala will represent Global Sales in the Executive Team, and the current Executive Team members Pekka Lindfors, Senior Vice President, and Jukka Virkkunen, Senior Vice President, will report to him. At the same time, the company will revise the operations of its unit specializing in mergers and acquisitions, headed by the current Executive Team member Matti Copeland, Senior Vice President. Copeland reports to Esa Tihilä. As of April 8, 2013, the composition of the Basware Executive Team is as follows: Esa Tihilä, CEO; Mika Harjuaho, CFO; Kari Aarvala, Senior Vice President, Global Sales; Henrik Hasselbalch, Senior Vice President, Professional Services; Mari Heusala, Senior Vice President, HR & Development; Jorma Kemppainen, Senior Vice President, Product Development; Steve Muddiman, Senior Vice President, Global Marketing; Ilari Nurmi, Senior Vice President, Product Management; Riku Roos; Senior Vice President, Automation Services; and Matti Rusi, Senior Vice President, Customer Support. For more information, please contact: Esa Tihilä, CEO, Basware Corporation Tel. +358 40 480 7098 Distribution: NASDAQ OMX Helsinki Ltd Main media www.basware.com This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Basware via Thomson Reuters ONE [HUG#1673494]