Bittium Corporation
Inside Information

Inside Information: Bittium Corporation's Chief Executive Officer Changes

Bittium Corporation, Stock Exchange Release, February 18, 2025, at 8.00 am (CET+1)

The current Chief Executive Officer of Bittium Corporation, Johan Westermarck, has resigned from his position. The Board of Directors of Bittium Corporation has appointed Petri Toljamo as the new Chief Executive Officer of the Company as of April 1, 2025.

Petri Toljamo (M.Sc. Radio Engineering, eMBA) has over 20 years of experience in executive positions at various international technology companies and in global business operations. He joins Bittium from his current position as Chief Executive Officer and founder of HT Growth Partners Oy, where he has been supporting numerous companies with international sales and business development, growth strategies and mergers & acquisitions. Prior to that, Toljamo served as Managing Director of Keysight Technologies Finland Oy, Anite Finland Oy, and Pulse Finland Oy over 10 years. In addition, he currently serves as the Chairman of the Board at Creowave Oy and HT Growth Partners Oy.

"The core of Bittium's updated strategy is profitable growth and a strong commitment to customer-centricity. I am pleased to welcome Petri to lead Bittium into this new growth phase. He has a strong technological background, extensive experience in leading companies and driving growth in international markets," says Erkki Veikkolainen, the Chairman of the Board of Bittium Corporation.

"I am honored by the trust that Bittium's Board has placed in me by selecting me for this position. The Company is at a highly interesting stage and has all the prerequisites to achieving its future goals. I am excited about this new role. Bittium has highly talented personnel, a competitive product portfolio and a strong market position. By investing in international sales and customer-centricity, we will drive the company to profitable growth in line with our strategy. We will also keep the option of expanding the business through inorganic growth open," says Petri Toljamo.

Petri Toljamo has been serving as a Board Member of Bittium Corporation in 2018-2020 and from 2021 onwards. Upon assuming the role of Chief Executive Officer, he will step down from the Board. As of April 1, 2025, the Board of Directors of Bittium Corporation include Erkki Veikkolainen, the Chairman of the Board, and members of the Board: Pekka Kemppainen, Veli-Pekka Paloranta, Riitta Tiuraniemi and Raimo Jyväsjärvi.

Johan Westermarck has been acting as the Chief Executive Officer of Bittium Corporation since 2023 and will continue in his position until March 31, 2025.

"I would like to thank Johan for the good cooperation and his strong leadership in systemically leading the company through significant transition phase," says Erkki Veikkolainen.

"When I started at Bittium, my goal was to take Bittium on a profitable growth path. That turnaround has now been made, and the Company's future looks bright," says Johan Westermarck.

Oulu, Finland
February 18, 2025

Bittium Corporation
The Board of Directors
 

Further Information:

Erkki Veikkolainen
Chairman of the Board of Directors
Bittium Corporation

Contact: Corporate Communications
Tel. +358 40 344 2789

Distribution

NASDAQ Helsinki
Main media

Bittium

Bittium specializes in the development of reliable, secure communications and connectivity solutions leveraging its 40-year legacy of expertise in advanced radio communication technologies. Bittium provides innovative products and services, customized solutions based on its product platforms and R&D services. Complementing its communications and connectivity solutions, Bittium offers proven information security solutions for mobile devices and portable computers. Bittium also provides healthcare technology products and services for biosignal measuring in the areas of cardiology and neurophysiology. Net sales in 2024 were EUR 85.2 million and operating profit EUR 8.6 million. Bittium is listed on Nasdaq Helsinki. www.bittium.com