M-REAL REORGANISES ITS MANAGEMENT
M-real Corporation Stock Exchange Bulletin 15.12.2006
M-REAL REORGANISES ITS MANAGEMENT M-real Corporations reorganised management team will take up their responsibilities from 1 January 2007. The aim is to continue downsizing the head office top management positions following decisions already made, and as a consequence of the ongoing integration process of M-reals and Metsäliitto Groups support functions. Management practices and overlapping functions will be streamlined, and costs cut. On 18 October, M-real announced its new restructuring programme and appointed its new CEO, Mikko Helander. Since then he has evaluated the companys future priorities and has formed a new management team best suited to execute the restructuring programme, and steer and develop the company to achieve its set targets. As Mikko Helander points out: In addition to the restructuring programme, M-real needs thorough re-engineering from top to bottom. The only fair way to initiate the process is to start from the top management and then proceed step-by-step through the whole company. M-reals new management team as of 1 January 2007 Mikko Helander, CEO Seppo Parvi, CFO and Deputy to the CEO Seppo Puotinen, Head of Office Papers Business Area Gregory Gettinger, Head of Publishing Business Area Mika Joukio, Head of Consumer Packaging Business Area Jarmo Salonen, Head of Commercial Printing Business Area Karl-Johan Lindborg, Head of Map Merchant Group Matti Mörsky, Head of Business Development I firmly believe that this team can efficiently execute the restructuring programme and lay solid foundations on which to reform the companys way of operating so it can meet the demands set by todays permanently changed business environment. While excellent work has been done to reduce costs, global changes in the paper industry call for profound re-engineering in our sales processes, supply chain and mill management, he concludes. The re-engineering programme to improve efficiency and significantly cut costs has already begun by reorganising M-reals top management and head office support functions. As announced earlier, Aarre Metsävirta, Deputy CEO, will retire in spring 2007. Until then he will act as Senior Advisor to the CEO. As announced on 18 October, the integration project of M-reals and Metsäliitto Groups support functions and administration has been initiated. As HR will be part of this project, Ari Himma will step down from M-reals management team. M-REAL CORPORATION Further information: Mikko Helander, CEO, +358 10 469 4300 and Anne-Mari Achrén, Communications, +358 10 469 4541