UPM appoints new CFO and Head of corporate strategy

UPM combines its Group level Finance and Control and Strategy under one management. At the same time the company strengthens the long term strategy development of its Business Groups by appointing senior level strategists into the Management Teams of its Paper as well as Energy and Pulp Business Groups.The following appointments will take effect as of May 1:Tapio Korpeinen has been appointed Chief Financial Officer (CFO). He will also be responsible for Corporate Strategy. Korpeinen is currently the President of the Energy and Pulp Business Group and has previously been the Executive Vice President, Strategy. He continues to be a Member of the Group Executive Board and reports to Jussi Pesonen, CEO. UPM's current CFO, Jyrki Salo, will leave the company on his own initiative and by mutual agreement.Tapio Korpeinen will also be responsible for the strategic holding in the energy company Pohjolan Voima as well as UPM's sourcing and logistics, and information technology functions.Heikki Vappula has been appointed President, Energy & Pulp Business Group and Member of the Group Executive Board. Vappula is responsible for UPM's Sourcing since 2006.Anu Ahola has been appointed Senior Vice President, Strategy Development, Paper Business Group. She will report to Jyrki Ovaska, President, Paper Business Group. Martin Björnström has been appointed Senior Vice President, Strategy Development, Energy and Pulp Business Group. He will report to Heikki Vappula. Kari Ståhlberg has been appointed Senior Vice President, Corporate Strategy. He reports to Tapio Korpeinen.