Basware

Esa Tihilä appointed new CEO of Basware Corporation

Esa Tihilä appointed new CEO of Basware Corporation

Basware Corporation stock exchange release, October 13, 2011 at 08:50

The Board of Directors of Basware Corporation has appointed Esa Tihilä as new
CEO of Basware Corporation as of October 17, 2011. Mr. Tihilä currently serves
as Senior Vice President, Automation Services, at Basware Corporation.

Esa Tihilä (born 1964) has been working at Basware since 2004 and has been a
member of the Basware Executive Team since 2005. Before heading the Automation
Services unit, Mr. Tihilä was responsible for the European operations at
Basware.  Prior to joining Basware, he was CEO of Meridean Oy and held several
management positions at ICL.  Mr. Tihilä holds College (Econ) and eMBA degrees.

Present CEO Ilkka Sihvo has been employed by Basware since 1989 and worked as
CEO since 2005. Ilkka Sihvo and the Board of Directors of Basware have agreed
that Ilkka Sihvo will be available during the transition period until the end of
2011.

Ilkka Sihvo says: "This is the right time to realize the change that I have been
considering already for a while and hand over the development of Basware to Esa
Tihilä who knows Basware´s business inside out. I am confident that Esa will be
able to continue the internationalization and growth further on. I am confident
in handing over the duties of CEO to Esa."

The Chairman of the Board of Basware Corporation Hannu Vaajoensuu: " I would
like to thank Ilkka for his remarkable input in listing a Finnish company on the
stock exchange and developing it into an internationally recognized service
company.  I believe that the success of Basware is based on Ilkka´s strong
understanding of customers´ needs in the global market.  The Board of Directors
of Basware and personnel would like to thank Ilkka, wishing him the best luck.
Under Esa Tihilä, Basware will continue to concentrate on strong international
growth on the basis of its present strategy."

Basware Corporation

Board of Directors

More information:
Hannu Vaajoensuu, Chairman of the Board
Tel.  [phone]

Ilkka Sihvo, CEO
Tel. [phone]

Esa Tihilä, SVP, Automation services
Tel. [phone]

www.basware.com

Distribution:
NASDAQ OMX Helsinki Ltd, main media

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Source: Basware via Thomson Reuters ONE

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