Key Changes in UPM's Leadership: Retirement and New Appointments Ahead

Significant Leadership Transitions at UPM

UPM, a leading materials solutions company, is undergoing notable changes in its executive team, which were announced on March 16, 2026. Chief Financial Officer and Executive Vice President for UPM Energy, Tapio Korpeinen, has declared his intention to retire by the end of 2026 after nearly 23 years of service. He plans to continue contributing to the organization as a Senior Advisor until mid-2027.

In his time at UPM, Korpeinen has been a crucial figure in the company's transformation and has played a key role in enhancing shareholder value. UPM’s President and CEO, Massimo Reynaudo, praised Korpeinen's significant contributions, emphasizing his impact on both UPM's strategic direction and financial health.

As part of the transition, UPM is actively seeking successors for both the Chief Financial Officer and Executive Vice President positions.

Appointment of Risto Penttinen

To further facilitate UPM's transformation, Risto Penttinen has been appointed as Executive Vice President for Transformation, effective April 13, 2026. He will work directly under CEO Massimo Reynaudo. Reynaudo believes that Penttinen’s extensive experience in strategy and organizational change makes him ideally suited for this critical role as UPM prepares for its next phase of development.

Penttinen holds a master’s degree in international business and has a robust background, including senior management positions at Fortum and Uniper between 2011 and 2024. His prior consulting experience with McKinsey & Company for 14 years adds to the depth of his qualifications. Currently active as an independent consultant, Penttinen is expected to bring a fresh perspective to UPM’s ongoing initiatives.

Looking Ahead

The strategic measures being undertaken by UPM are set to shape the company’s future significantly. With Korpeinen’s retirement approaching, the focus will be on ensuring a smooth transition that retains the momentum of UPM's growth and transformation. The appointment of Penttinen is seen as a proactive step towards maintaining this trajectory.

UPM remains a major player in providing innovative and sustainable material solutions globally. The company prides itself on its commitment to sustainability, which has been recognized by various organizations. With upcoming leadership changes, stakeholders are eager to see how UPM will adapt and continue its legacy of excellence in the industry.

For additional information and updates on UPM, their ongoing sustainability initiatives, and new developments in leadership, visit UPM's official website.