November 02, 2011

Mr. Olli-Pekka Vanhanen appointed CFO

To ensure the implementation of the Valmet Automotive growth strategy the organizational structures are developed. Consequently, the Group finance and IT organizations are combined and the organization of Business Development is reinforced.

Mr. Olli-Pekka Vanhanen (M.Sc. Economics) has been appointed CFO (Chief Financial Officer) of Valmet Automotive as of November 21, 2011. He will lead and develop Valmet Automotive operations globally in finance, accounting, reporting, IT, legal affairs and administration.

Mr.Vanhanen takes Executive Team level responsibility of finance, IT and legal functions. He reports to President Ilpo Korhonen.

The experience of Mr. Vanhanen consists of executive management positions and international responsibilities in companies like Elqotec Group and Finnforest Group, Kalmar Industries Group, Wärtsilä and IVO/Imatran Voima.

Furthermore, Business Development organization is reinforced. The target is to ensure the implementation of the strategy, to develop new services and to expand the company’s service portfolio in Asia and the USA.

Mr. Rainer Karjalainen reinforces Business Development organization as of November 1, 2011 being responsible for finance of Business Development. In his new task he reports to Mr. Erik Torseke, Senior Vice President, Business Services, Sales and Marketing.