Jussi Pesonen of UPM wins RISI’s European CEO of the Year Award

(UPM, Helsinki, 25 January 2011) – Jussi Pesonen, President and CEO of UPM, has been selected as the RISI European CEO of the Year for the pulp and paper industry for 2011.

European analysts and portfolio managers covering the forest products industry choose the European CEO of the Year annually through a survey organized by RISI, the leading information provider for the industry. The criteria for nomination include leadership, vision and strategic accomplishment. This is the second time that Mr. Pesonen has won this prestigious award, having received the title in 2007 as well.

Describing the reason behind Mr. Pesonen's nomination, one analyst commented, "UPM's recent entering into the agreement to acquire the Myllykoski Corporation and Rhein Papier signals that under Pesonen's leadership the company is proving itself to be the ultimate trailblazer of consolidation in European industry, something that is vital as the industry goes forward out of recession and back into profitability."

Another analyst pointed to Mr. Pesonen's track record of implementation, saying "Pesonen is showing clear vision in a number of ways, strategic acquisitions in paper, CAPEX spending in low cost pulp production in Latin America, and investment in C02 free energy production in Finland. What impresses me is that he is not talking about all these opportunities, he is actually doing them."

"Above all, the award is a recognition to UPM's organization which has shown strong commitment to renewal and ability to implement even the most demanding initiatives", says Jussi Pesonen.

For more information please contact:

UPM, Corporate Communications
Media Desk, tel. +358 40 588 3284
communications@upm.com

About RISI

RISI is the leading information provider for the global forest products industry. The company works with clients in the pulp and paper, wood products, timber, biomass, tissue, nonwovens, printing and publishing industries to help them make better decisions. Headquartered in Boston, MA, RISI operates additional offices throughout North and South America, Europe and Asia. More information can be found at www.risi.com.