Changes in Neste Executive Board roles and responsibilities

Neste Corporation
Stock Exchange Release
13 September 2016 at 1 pm. (EET)

Changes in Neste Executive Board roles and responsibilities

Tuomas Hyyryläinen (M.Sc. (Econ.), 38) has been appointed as Senior Vice President, Emerging Businesses Unit as of September 14, 2016. He will continue as a member of the Neste Executive Board, reporting to President and CEO Matti Lievonen.

Tuomas Hyyryläinen will transfer to his new position from the post of Neste Senior Vice President of Strategy and New Ventures. From September 14, 2016 onwards, Strategy and related operations will report to Jyrki Mäki-Kala, CFO.

"Neste will continue to grow by leveraging its capabilities and current leader position in advanced renewable fuels. Next, we will reach out to markets outside traffic fuels, with a strategic focus on bio-based chemicals, such as plastics and solvents. Our ambition is to have this segment to represent 20% of our renewables volumes by 2020. This is the reason why we decided to establish a dedicated business unit for the job. I am convinced that Tuomas Hyyryläinen is the right person to lead this journey. He has a proven ability and passion to create strategic clarity, drive partnerships and cooperation across industries, and deliver products and solutions creating responsible choices for companies and people every day."

Neste Corporation

Osmo Kammonen
SVP Communications and Brand Marketing

Further information: Matti Lievonen, CEO & President, Neste, tel. + 358 10 458 11

Neste in brief

Neste (NESTE, Nasdaq Helsinki) creates sustainable choices for the needs of transport, businesses and consumers. Our global range of products and services allows customers to lower their carbon footprint by combining high-quality renewable products and oil products to tailor-made service solutions. We are the world's largest producer of renewable diesel refined from waste and residues, and we are also bringing renewable solutions to the aviation and plastics industries. We want to be a reliable partner, whose expertise, R&D and sustainable practices are widely respected. In 2015, Neste's net sales stood at EUR 11 billion, and we were on the Global 100 list of the 100 most sustainable companies in the world. Read more: neste.com/en

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Source: Neste Oyj via Globenewswire