Penttinen will become a member of the company’s group executive team, reporting to President and CEO Massimo Reynaudo. UPM said the newly created role is intended to support the company’s next phase of strategic transformation.
“Risto’s broad experience and in-depth expertise in strategy, organizational change and transformation is a perfect fit for this role,” Reynaudo said. Penttinen, born in 1968, holds a master’s degree in international business and held senior leadership roles at Fortum and Uniper between 2011 and 2024, including serving on Fortum’s executive team. Earlier, he spent 14 years as a consultant and partner at McKinsey & Company.
In a separate leadership change, Tapio Korpeinen, chief financial officer and EVP, UPM Energy, plans to retire from his positions and the group executive team at the end of 2026 after reaching his contractual retirement age. He will continue as senior advisor until mid-2027 while the company conducts separate searches for successors to the CFO and EVP, UPM Energy roles.
UPM is a Finland-based material solutions company focused on renewable fibres, advanced materials, and decarbonization solutions.
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