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Governance

UPM-Kymmene Corporation is a Finnish limited liability company with headquarters in Helsinki, Finland. The parent company UPM-Kymmene Corporation and its subsidiaries form the UPM Group having approximately 15,800 employees in 43 countries. The group’s business operations are divided into six business areas, other operations including new businesses and global functions. UPM shares are listed on Nasdaq Helsinki exchange.

Governance structure

At UPM, our governance framework ensures transparency, accountability, and effective decision-making. Our one-tier governance model consists of the General Meeting of Shareholders, the Board of Directors, and the President and CEO, supported by dedicated executive teams. This structure enables us to implement our strategy, manage risks, and drive sustainable growth while upholding the highest corporate governance standards.

The Group Executive Team includes the leaders of UPM’s business areas and global functions. It supports the President and CEO in approving and implementing group-wide guidelines and procedures. The President and CEO chairs this team.

The Business Area Boards are led by the President and CEO and include the CFO, EVPs of global functions, and the EVP of the respective business area. These boards help guide decision-making on strategy, budgets, performance, investments, commercial strategies, risks, organizational changes, and HR matters.

The Strategy Team, chaired by the President and CEO, includes the CFO and EVPs of strategy, technology, and legal functions. This team supports strategic planning, major projects, capital expenditures, mergers & acquisitions, and other key initiatives for Board approval.

Each business area and global function has its own management team to assist in strategy execution, budgeting, business development, and organizational planning. The largest business areas are further divided into strategic business units, each with its own management team.