Stora Enso Restructures Group Executive Team

Stora Enso, Helsinki, Finland, reports that it is appointing three new members to its Group Executive Team. At the same time, three current members will leave the team to take new positions inside and outside of the company.

Karl-Henrik Sundstrom has been appointed CFO, effective August 1. He joins Stora Enso from the Dutch semiconductor company NXP, the former Philips semiconductors business located in Eindhoven. Sundstrom has spent most of his career with the Swedish telecommunications company Ericsson, building his career from Latin America and managing the company's business in Australia to finally first becoming head of Global Services and later EVP and CFO of Ericsson AB.

"In his last two roles, as CFO of one of Sweden's largest companies for almost five years, and currently as CFO of NXP, Karl-Henrik Sundstrom has proved to be a world-class CFO. His additional experience of running a business will greatly contribute to our efforts to renew Stora Enso. We all warmly welcome Karl-Henrik to our team with high expectations," said Stora Enso CEO Jouko Karvinen.

Head of Stora Enso Global Identity Lauri Peltola (right), and General Counsel Per Lyrvall (below) are also appointed as new members of the Group Executive Team, effective March 19. The new Group Executive Team is as follows:

Jouko Karvinen, CEO
Juan Bueno, EVP, Biomaterials Business Area
Lars Haggstrom, EVP, Global People and Organization
Hannu Kasurinen, EVP, Building and Living Business Area
Per Lyrvall, EVP, Global Ethics and Compliance, general counsel
Mats Nordlander, EVP, Renewable Packaging Business Area
Lauri Peltola, EVP, Global Identity
Karl-Henrik Sundstrom, EVP, CFO (as of August 1)
Juha Vanhainen, EVP, Printing and Reading Business Area.

The following three members are leaving the Group Executive Team: Hannu Alalauri, formerly head of the Fine Paper Business Area, has been appointed as the head of the Packaging Solutions Business Unit and joins the Renewable Packaging Management Team. Bernd Rettig, currently responsible for energy, logistics, R&D, and capital investments, will continue with R&D and capital investments, but will also increase his focus on managing Stora Enso's large capital investment projects. He continues to report to the CEO. The current CFO, Markus Rauramo, has been appointed as CFO of Fortum Corp. He will remain with Stora Enso and in the Group Executive Team until Karl-Henrik Sundstrom joins the company.

TAPPI
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