Mr Heikki Malinen, M.Sc (Econ.), MBA (Harvard), aged 43, has been appointed Executive Vice President, Strategy and member of UPM's Executive Team as of January 1, 2006. The current Executive Vice President Mr Heikki Sara, aged 60, will retire on January 31, 2006. Mr Malinen currently works as President, UPM-Kymmene North America. Mr Malinen will report to Mr Jussi Pesonen, President and CEO.
Heikki Malinen has two decades of professional experience in the paper industry and management consulting profession. He has worked for the global forest industry consulting firm, Jaakko Poyry, where he was responsible for the North American practice. Before that, he was a manager in the Atlanta office of management consulting firm McKinsey & Company, Inc. After working for UPM early in his career in his native Finland, Malinen re-joined the company's North American operations in 2002 as President of Sales. Since April 2004, Mr Malinen has worked as President of UPM North America.
Mr Bernd Eikens, Ph.D. (Eng.), aged 40, has been appointed President, UPM-Kymmene North America as of October 1, 2005. Mr Eikens currently works as Managing Director of UPM's Nordland Papier paper mill in Germany. Previously he has worked two years in the paper industry in the USA. Mr Eikens will report to Mr Jyrki Ovaska, President, Magazine Papers Division.
August 16, 2005