Vesa Vainio to continue as Chairman of UPM Board of Directors

Archive 31.3.2005 0:00 EEST

At UPM-Kymmene Corporation's Board of Directors assembly meeting, Mr. Vesa Vainio was re-elected as Chairman. Mr. Jorma Ollila and Mr. Berndt Brunow were elected as Vice Chairmen.

In addition, the Board of Directors elected from its members an Audit Committee with Mr. Michael C. Bottenheim as Chairman, and Mr. Martti Ahtisaari and Ms. Wendy E. Lane as members. A Human Resources Committee was elected with Mr. Berndt Brunow as Chairman, and Mr. Georg Holzhey and Ms. Françoise Sampermans as members. Furthermore, a Nomination Committee was elected with Mr. Karl Grotenfelt as Chairman, and Mr. Jorma Ollila and Mr. Berndt Brunow as members.

The Board members are independent of the company except for Mr. Georg Holzhey, who has been employed by the company during the last three years. Mr. Georg Holzhey was a member of UPM's Executive Team in 2002.

Corporate Communications
March 31, 2005