Significant Changes in UPM's Executive Team: New CFO and EVP Appointments

Recent Changes in UPM's Group Executive Team

In an important shift within the corporate structure of UPM-Kymmene Corporation, two key appointments have been made to the Group Executive Team. On January 1, 2027, Aki Temmes will take on the role of Chief Financial Officer (CFO), while Petri Hakanen will assume the position of Executive Vice President (EVP) for UPM Fibres. Both executives will continue to report directly to Massimo Reynaudo, the President and CEO of UPM.

Aki Temmes: New Chief Financial Officer

Aki Temmes, born in 1977, comes to the CFO role after having served as the Executive Vice President of UPM Fibres since December 2023. His extensive background in finance within UPM spans back to 2003, witnessing him take on numerous finance and leadership roles. Temmes, a Finnish citizen, holds a Master of Science in Finance from Tampere University and an Executive MBA from Hanken School of Economics.

Reynaudo expressed strong confidence in Temmes, highlighting his over 20 years of experience in finance and business leadership. "Aki is exceptionally well qualified for the role of CFO," said Reynaudo. "His combination of financial expertise, strategic insight, and business acumen makes him a perfect fit for this position."

Temmes replaces Tapio Korpeinen, who is retiring at the end of this year. This transition marks a significant change in UPM's financial leadership, aimed at steering the company effectively into the future.

Petri Hakanen: Executive Vice President of UPM Fibres

Taking over the reins of UPM Fibres is Petri Hakanen, a seasoned executive with a wealth of experience in the company. Born in 1967, Hakanen has held various leadership roles since joining UPM in 1991, including his most recent position as Senior Vice President of Fibres Finland Operations. His educational credentials include a Master of Science in Industrial Management and Paper Technology from Helsinki University of Technology.

Hakanen's journey at UPM has been marked by impressive achievements, including leading the Uruguay Development Project, which resulted in the successful launch of the UPM Paso de los Toros pulp mill in 2023. Reynaudo praised Hakanen's capabilities, noting his deep understanding of both the Fibres South and North businesses, stating, "Petri has exceptionally strong credentials to lead UPM Fibres. His decades at UPM have equipped him with the necessary expertise in operations and strategic transformations."

What Lies Ahead for UPM

As UPM positions itself for renewed growth and innovation, these leadership changes come at a pivotal time. The company is known for its commitment to sustainability and renewable solutions, recently generating approximately €9.7 billion in annual revenues and employing around 15,100 individuals worldwide. UPM's ongoing focus on decarbonization and product renewal is essential for its competitive edge in the evolving market landscape.

In conclusion, the appointments of Aki Temmes and Petri Hakanen signify a strategic reshuffle aimed at reinforcing UPM's leadership in financial and operational realms. With a clear focus on sustainability and innovation, UPM is poised to continue its significant impact in the industry for years to come.