STORA ENSO OYJ INSIDER INFORMATION 26
August 2019 at 20.20 EEST
HELSINKI, Aug. 26, 2019 /PRNewswire/ -- Karl-Henrik
Sundström has informed Stora Enso's Board of Directors today that
he is leaving the position of CEO. The Board has initiated the
search process for a successor.
Karl-Henrik Sundström will continue in his current role for the
time being and will leave Stora Enso during the first quarter of
2020. The exact date will be communicated once a successor is in
place.
"Under Karl-Henrik Sundström's leadership and vision, Stora Enso
has accelerated the transformation into the bioeconomy. He has
played a crucial role in developing Stora Enso into the renewable
materials company, successfully driving towards sustainable
profitable growth. Under Karl-Henrik's tenure, Stora Enso has
become a global leader in sustainability. The company's leading
innovation agenda reflects that sustainable solutions can replace
fossil-based materials and contribute to combatting global
warming," says Jorma
Eloranta, Chair of the Board.
Karl-Henrik Sundström joined Stora Enso in 2012 as CFO and took on
the role as divisional head of the Paper and Wood Products
businesses in 2013. He assumed the role of CEO of Stora Enso in
August 2014.
"I have enjoyed my time with Stora Enso tremendously, we are on an
exciting journey. In a time where awareness of sustainability is
becoming more and more important to businesses and communities
around the globe, we are looking forward to our next 1 000 years. I
have been very proud to work together with the talented Stora Enso
teams and our dedicated customers, on renewable, recyclable and
fossil-free solutions. As I am turning 60 next year, it is now time
for me to hand on the torch to a successor who will continue to
lead our journey," says Stora Enso's CEO Karl-Henrik Sundström.
Part of the bioeconomy, Stora Enso is a leading global provider of
renewable solutions in packaging, biomaterials, wooden
constructions and paper. We believe that everything that is made
from fossil-based materials today can be made from a tree tomorrow.
Stora Enso has some 26 000 employees in over 30 countries. Our
sales in 2018 were EUR 10.5 billion.
Stora Enso shares are listed on Nasdaq Helsinki (STEAV, STERV) and
Nasdaq Stockholm (STE A, STE R). In addition, the shares are traded
in the USA as ADRs (SEOAY).
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