Temporary management arrangements in UPM Biorefining Business Area

(UPM, Helsinki, 26 November 2018 at 14:30 EET) - Jussi Pesonen, President and CEO of UPM, will assume, on top of his regular duties, temporary responsibility as the Head of UPM Biorefining. The businesses and the transformative growth initiatives in Uruguay and biofuels formerly reporting to Heikki Vappula, will continue operations with existing resources and plans.

UPM will initiate a process for permanent management arrangements in due course.

UPM Biorefining consists of pulp, timber and biofuels businesses.  UPM has three pulp mills in Finland and one mill and plantation operation in Uruguay. UPM operates four sawmills and one biorefinery in Finland. The main customers of UPM Biorefining are tissue, specialty paper and board producers in the pulp industry, fuel distributors in the biofuel industry and construction and joinery industries in the timber sector.

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We deliver renewable and responsible solutions and innovate for a future beyond fossils across six business areas: UPM Biorefining, UPM Energy, UPM Raflatac, UPM Specialty Papers, UPM Communication Papers and UPM Plywood. We employ around 19,100 people worldwide and our annual sales are approximately EUR 10 billion. Our shares are listed on NASDAQ OMX Helsinki. UPM Biofore - Beyond fossils. www.upm.com

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Source: UPM via Globenewswire