UPM is reshaping its top management as it prepares for its next phase, creating a new executive role focused on transformation while also setting in motion a leadership transition in its finance and energy division.<\/p>\n
The Finnish forest industry group has appointed Risto Penttinen as Executive Vice President, Transformation, and a member of the group executive team, effective April 13, 2026. The newly created role signals a more structured push to steer organisational change across the company.<\/p>\n
Chief executive Massimo Reynaudo said the position was established to support the company\u2019s next stage of development, pointing to Penttinen\u2019s background in strategy and large-scale corporate change.<\/p>\n
Penttinen brings experience from senior roles at Fortum and Uniper, as well as more than a decade as a partner at McKinsey. He joins UPM from independent advisory work and will report directly to the CEO.<\/p>\n
Separately, UPM said its chief financial officer and executive vice president of UPM Energy, Tapio Korpeinen, will retire at the end of 2026 after reaching contractual retirement age. He is expected to remain with the company as a senior adviser until mid-2027.<\/p>\n
Korpeinen leaves after 22 years at the company, having been closely involved in its strategic repositioning and capital allocation over that period. UPM has launched succession processes for both the CFO role and the leadership of its energy business.<\/p>\n
The management changes come against a backdrop of softer financial performance in 2025. Fourth-quarter sales fell to \u20ac2.31 billion, down from \u20ac2.63 billion a year earlier, while comparable EBIT declined 15% to \u20ac355 million. For the full year, sales dropped to \u20ac9.66 billion and comparable EBIT fell 25% to \u20ac921 million, reflecting weaker margins across several business areas, even as operating cash flow remained solid at \u20ac1.4 billion.<\/p>","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":98249,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[5204],"tags":[],"class_list":["post-98248","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-news"],"acf":[],"yoast_head":"\n