Changes in UPM’s Group Executive Team

Stock Exchange Release 15.1.2024 14:00 EET

UPM-Kymmene Corporation Stock Exchange Release (Changes board/management/auditors) 15 March 2024 at 14:00 EET

Changes in UPM’s Group Executive Team

Antti Jääskeläinen assumes interim role leading UPM Communication Papers business area as of 15 January 2024

Following the transfer of Massimo Reynaudo from UPM Communication Papers to lead UPM-Kymmene Corporation as its President and CEO, Antti Jääskeläinen has been appointed to act as interim Executive Vice President of UPM Communication Papers until a successor has been appointed. Antti Jääskeläinen assumes this role on top of his current duties and continues in his current role as Executive Vice President of UPM Raflatac. Antti Jääskeläinen’s biographical details are available at the company’s website.

Saara Tahvanainen appointed Executive Vice President, UPM Stakeholder Relations and member of UPM’s Group Executive Team

Saara Tahvanainen has been appointed Executive Vice President responsible for UPM’s Stakeholder Relations, and member of UPM’s Group Executive Team. Stakeholder Relations covers communications, brand/marketing, corporate responsibility, and public affairs. She will start in the role latest on 15 July 2024. She will report to Massimo Reynaudo, President and CEO, and will be based in Helsinki, Finland.

Saara Tahvanainen, born 1974, is currently Executive Vice President, Marketing and Communications of Wärtsilä Corporation. Prior to that she was responsible for stakeholder relations in UPM Fibres Business Area for five years. She has a versatile industry background from telecommunications to stainless steel and forest industry.

Saara Tahvanainen holds a master’s degree in communications. She is a Finnish citizen.

"Saara is a top professional with broad international experience in communications, B2B marketing, corporate responsibility and company transformations. She knows UPM and UPMers very well. She also has a strong business acumen and is a people centric leader. I am confident that Saara will contribute very positively to the implementation of our strategy," says Massimo Reynaudo.

Saara Tahvanainen’s predecessor Pirkko Harrela has reached her contractual retirement age and will retire after a 38-year career in UPM and preceding companies. She will continue with her duties in UPM until end of March 2024.

“Together with Jussi Pesonen I would like to wholeheartedly thank Pirkko for her excellent contribution to UPM’s success. She has truly played an essential role in creating UPM’s transformation story. She has always brought clarity, consistency, and a high standard of quality to the table. Pirkko has been an encouraging colleague to all of us and a rock-solid professional. It has been a great honour and a privilege to have her with UPM and we wish her all the very best for the future,” says Massimo Reynaudo.

UPM-Kymmene Corporation
Tapio Korpeinen, CFO

UPM, Media Relations
Mon-Fri 9:00–16:00 EET
tel. +358 40 588 3284
media@upm.com

Pictures of Saara Tahvanainen are available for the media at https://materialhub.upm.com/l/sQRhG5sQCNzT

UPM
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. www.upm.com