Changes in Fortum Executive Management – Head of Solar & Wind Development and M&A to leave Fortum

FORTUM CORPORATION STOCK EXCHANGE RELEASE 29 AUGUST 2018 AT 9.00 EEST  

Mr Kari Kautinen, Senior Vice President, Solar & Wind Development and M&A has decided to leave Fortum. It has been mutually agreed that Mr Kautinen will continue his duties until the end of September 2018. Mr Kautinen joined Fortum in 1998 and has been a member of the Fortum Executive Management since 2014. Prior to his current role he was in charge of Fortum’s Strategy as well as Mergers and Acquisitions in the management team. Replacement arrangements have been initiated.

“Kari has played a central role in transforming Fortum with innovative and value-accretive transactions, including the divestment of the distribution business, restructuring of our ownership in Hafslund and the recent investment in Uniper. His contribution has also been invaluable in starting up and growing Fortum’s solar and wind business. On behalf of Fortum, I want to thank Kari for his dedication and wish him all the best in his future undertakings,” says Pekka Lundmark, President and CEO of Fortum.

Fortum Corporation

Ingela Ulfves, Vice President, Investor Relations and Financial Communications

Further information:

Investors and analysts:

Måns Holmberg, Manager, IR and Financial Communications tel. +358 44 518 1518
Rauno Tiihonen, Manager, Investor Relations, tel. +358 10 453 6150

Media:

Pauliina Vuosio, VP, Executive Communications tel. +358 50 453 2383

Distribution:

Nasdaq Helsinki
Key media
www.fortum.com

Fortum

Fortum is a leading clean-energy company that provides its customers with electricity, heating and cooling as well as smart solutions to improve resource efficiency. We want to engage our customers and society to join the change for a cleaner world. We employ some 9,000 professionals in the Nordic and Baltic countries, Russia, Poland and India. In 2017, our sales were EUR 4.5 billion and 61% of our electricity generation was CO2 free. Fortum's share is listed on Nasdaq Helsinki. www.fortum.com