UPM Announces Finance and Control, Corporate Strategy Appointments

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UPM, Helsinki, Finland, has combined its group level Finance and Control and Strategy under one management. At the same time, the company announced several appointments of senior level strategists into the Management Teams of its Paper as well as Energy and Pulp Business Groups, effective May 1.

Tapio Korpeinen has been appointed CFO, and will also be responsible for Corporate Strategy. Korpeinen is currently president of the Energy and Pulp Business Group and has previously been the executive VP, Strategy. He continues to be a Member of the Group Executive Board, and will also be responsible for the strategic holding in the energy company Pohjolan Voima as well as UPM's Sourcing and Logistics and Information Technology functions.

The company's current CFO Jyrki Salo will leave the company on his own initiative and by mutual agreement. Heikki Vappula has been appointed president, Energy & Pulp Business Group and a member of the Group Executive Board, reporting to the CEO. Vappula is responsible for UPM's Sourcing since 2006. Prior to that he held several business management positions in Nokia's different businesses.

Anu Ahola has been appointed senior VP, Strategy Development, Paper Business Group, reporting to Jyrki Ovaska, president, Paper Business Group. Martin Björnström has been appointed senior VP, Strategy Development, Energy and Pulp Business Group. He will report to Vappula. Kari Ståhlberg has been appointed senior VP, Corporate Strategy, reporting to Korpeinen.