Jyrki Salo, M.Sc. (Econ.), aged 45, has been appointed Executive Vice President, Chief Financial Officer and member of UPM's Executive Team as of 1 February 2006. Mr Salo will join UPM on 1 January 2006 and reports to Mr Jussi Pesonen, President and CEO.
Jyrki Salo has two decades of professional experience in the telecommunications and IT industries. He has been with Nokia Corporation since 1990 in senior executive positions with business and finance & control responsibilities.
The current CFO, Kari Toikka, aged 55, will transfer through internal rotation and by his own request to Senior Vice President, Internal Auditing as of 1 February 2006 reporting to Jussi Pesonen, President and CEO. Kari Toikka has been with the company since 1976. During the past seven years he has been UPM's Executive Team member.
Katri Hakkarainen, the current Vice President, Internal Auditing, aged 59, will gradually transfer to part-time retirement during 2006. She will report to Kari Toikka.
December 15, 2005