Petri Hakanen appointed Senior Vice President Technology (CTO) for UPM

Press Release 6.6.2023 15:00 EEST

Petri Hakanen has been appointed Senior Vice President Technology (CTO) for UPM as of 1 August 2023. In his new role, Petri will report to Winfried Schaur, Executive Vice President, UPM Biorefining & Technology and lead the company’s research & development, new business development as well as the investment management going forward.

“By appointing Petri Hakanen as CTO, we underline the importance of innovations and research and development for the future of UPM. We also strengthen the role of investment management, helping us to prepare for the execution of future large scale investment projects,” says Jussi Pesonen, President and CEO of UPM.

Petri Hakanen has been with UPM for almost 30 years in various senior management positions. During the past five years, he has been leading UPM’s largest project ever, the new pulp mill and related infrastructures in Uruguay.

UPM is fully committed to ensuring sustainable growth in the long run. A strong pipeline of innovations is central to further evolving our business – both in the fibre-based and biochemical businesses. This includes the active management of a strong strategic patent portfolio. With the Leuna biochemicals biorefinery project in Germany ongoing and the potential investment in a second biofuels refinery in Rotterdam, Netherlands pending, we need to further strengthen our capabilities in planning and implementing large scale investment projects now.

The new setup around Winfried Schaur and Petri Hakanen will ensure full focus on both innovation and research and development, as well as the scale-up of the UPM Biorefining businesses, UPM Biofuels and UPM Biochemicals.

For further information please contact:
Martin Ledwon, VP, Stakeholder Relations, UPM Biochemicals & Biofuels, tel. +49 15 1655 309 02,

UPM, Media Relations
Mon-Fri 9:00-16:00 EEST
tel. +358 40 588 3284

We deliver renewable and responsible solutions and innovate for a future beyond fossils across six business areas: UPM Fibres, UPM Energy, UPM Raflatac, UPM Specialty Papers, UPM Communication Papers and UPM Plywood. As the industry leader in responsibility, we are committed to the UN Business Ambition for 1.5°C and the science-based targets to mitigate climate change. We employ 17,200 people worldwide and our annual sales are approximately EUR 11.7 billion. Our shares are listed on Nasdaq Helsinki Ltd. UPM Biofore – Beyond fossils.

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