Changes to Fortum Executive Management team as part of a more integrated leadership approach across the Group

FORTUM CORPORATION STOCK EXCHANGE RELEASE 13 APRIL 2021 AT 9:30 EEST

Release category: Muutokset hallitus/johto/tilintarkastus

In order to accelerate strategy execution across the Group and following the Management Board changes at Uniper, Fortum and Uniper are now initiating group-wide concrete steps with the joint ambition to drive the clean energy transition in and for Europe.

These steps include a more diverse and pan-European leadership team to leverage existing experience and expertise more widely and to develop a joint culture. The aim is also to build an evolved governance across the Group within the current setup that supports more integrated business operations and faster value creation.

Fortum’s Board of Directors has approved the following appointments to the Fortum Executive Management effective as of 1 May 2021:

Nora Steiner-Forsberg, LLM, 47, is appointed Fortum’s new General Counsel. Ms Steiner-Forsberg is the successor of Sirpa-Helena Sormunen, whom Uniper has appointed its new General Counsel and Chief Compliance Officer. Following the appointment at Uniper SE, Ms Sormunen will step down from her position as member of Uniper’s Supervisory Board.Eveliina Dahl, M.Sc. (Eng.), 38, is appointed Senior Vice President, People, responsible for Fortum’s People function. Ms Dahl is succeeding Risto Penttinen, Senior Vice President, Strategy, People and Performance, whom Uniper has appointed its new Executive Vice President, Strategy, Corporate Development and M&A. Fortum’s Strategy, Procurement, and Real Estate functions as well as Investment and Portfolio analysis team that previously reported to Risto Penttinen will report to Fortum’s CFO Bernhard Günther going forward.

“I am very pleased to welcome Nora Steiner-Forsberg and Eveliina Dahl, two highly capable and experienced leaders, to the Fortum Executive Management. It’s always great when we can promote rotations within the Fortum Group. With the recent appointments made at both Fortum and Uniper, we are increasing diversity in the Group’s leadership and leveraging the talent we have among our ranks. Going forward, my ambition is that the leadership teams would work in a more integrated way to ensure efficient decision-making in both companies and faster value creation across the Group,” says Markus Rauramo, President and CEO of Fortum.

Further structures will be defined to foster fast decision making, disciplined capital allocation, and asset rotation as well as shortened project realisation timeframes while considering the group-wide perspective and securing the best interest of both companies. As a first step, a group investment forum, comprising relevant executives from both companies, will coordinate growth and maintenance investments, divestments, and major acquisitions. All decisions with respect to investment or divestment activities will be made under the established governance policies of the respective companies.

As of 1 May, Fortum Executive Management consists of:

• Markus Rauramo, President and Chief Executive Officer (CEO)
• Bernhard Günther, Chief Financial Officer (CFO)
• Simon-Erik Ollus, EVP Generation division
• Alexander Chuvaev, EVP Russia division
• Per Langer, EVP City Solutions division
• Mikael Rönnblad, EVP Consumer Solutions division
• Arun Aggarwal, SVP Business Technology
• Eveliina Dahl, SVP People
• Arto Räty, SVP Corporate Affairs and Group Communications, will be replaced by Nebahat Albayrak, SVP Corporate Affairs, Safety and Sustainability at the latest on 1 July
• Nora Steiner-Forsberg, General Counsel and Secretary of the Board of Directors

Fortum Corporation
Ingela Ulfves, VP, IR and Financial Communications 

Further information:

Investors & analysts:
Ingela Ulfves, VP, IR and Financial Communications, tel. +358 40 5151 531 
Rauno Tiihonen, IR Manager, tel. +358 50 453 6150 
Måns Holmberg, IR Manager, tel. +358 44 518 1518  

Media: 
Pauliina Vuosio, VP, Executive Communications tel. +358 50 453 2383 
Moritz Zumpfort, Communications Director, Germany tel. +49 173 7509644 
Fortum News Desk tel. +358 40 1982843 

Attachments:

CV and photo of Nora Steiner-Forsberg
CV and photo of Eveliina Dahl

Distribution:

Nasdaq Helsinki
Main media
www.fortum.com

Fortum

Fortum is a European energy company with activities in more than 40 countries. We provide our customers with electricity, gas, heating and cooling as well as smart solutions to improve resource efficiency. Together with our subsidiary Uniper, we are the third largest producer of CO2-free electricity in Europe. Close to 20,000 professionals and a combined balance sheet of approximately EUR 60 billion, we have the scale, competence and resources to grow and to drive the energy transition forward. Fortum's share is listed on Nasdaq Helsinki and Uniper's share on the Frankfurt Stock Exchange. www.fortum.com