Changes in Raute Executive Board and new organizational structure as of 1 January 2023

RAUTE CORPORATION STOCK EXCHANGE RELEASE NOVEMBER 28, 2022 at 8:00 a.m.

CHANGES IN RAUTE EXECUTIVE BOARD AND NEW ORGANIZATION STRUCTURE AS OF 1 JANUARY 2023
 

Raute is entering a new phase in its strategic journey to create value in forest assets. To better address the current operational and strategic development plans, Raute will change its organization structure. The new structure will strengthen Raute’s ability to service customers and streamlines internal operations. The change will also be reflected in the Executive Board composition and responsibility areas.

As of 1 January 2023, Raute will have three business units of Wood Processing, Analyzers and Services, each with a clear focus and accountability for its respective business operations. The Executive Board will consist of the CEO, three Executive Vice Presidents, one for each business unit and three functional roles: Chief Commercial Officer, Chief People Officer, and Chief Financial Officer.

Wood Processing business unit includes Raute’s core technology offering for veneer, plywood and LVL production. Delivery scope includes separate production equipment, modernizations, as well as full mill-scale projects, where Raute is a global market leader both in the plywood and LVL industries. Wood processing will be headed by Petri Strengell, who has been with Raute since 1987, and is currently a member of the Executive Board responsible for the supply chain operations. Strengell has also acted as Raute’s interim CEO from May 2022 to September 2022.

Analyzers business unit serves customers with Raute’s latest measurement technology for sorting veneer, plywood and LVL, and special measurement equipment for sawn timber. Analyzers will be headed by Jani Roivainen, who has been with Raute since 2011 and has been responsible for the Metrix business as a member of the Executive Board since 2019.

Services business unit focuses on Raute’s full-service concept ranging from spare parts deliveries to regular maintenance, digital services and equipment upgrades. Services will be headed by Kurt Bossuyt, who joined Raute in 2016. Currently, Bossuyt is a member of the Executive Board heading the Basic Services business since 2019.

Chief Commercial Officer (CCO) is a new functional role in the Executive Board. Responsibility of the CCO includes Raute’s market operations, sales & marketing, as well as commercial excellence and development. Jari Myyryläinen is appointed CCO and a member of the Executive Board as of 1 January 2023. Myyryläinen has worked in Raute since 2020 and is currently heading Raute’s EMEA Market Area.

Marko Hjelt is appointed Chief People Officer (CPO) responsible for the group-wide human resources, people development, and health & safety. Hjelt has been with Raute since 2013 and is currently responsible for the human resources function as an Executive Board member.

Chief Financial Officer (CFO) is responsible for the finance, ICT, IR, ESG and other business support. Minna Yrjönmäki is continuing in the interim CFO role, which she has been responsible for since May 2022.

Raute’s external financial reporting structure will not change following the new organization structure as all Raute’s operations continue to belong to the wood products’ technology segment.

Raute Group’s Executive Board and the members’ areas of responsibility as of 1 January 2023:

• Mika Saariaho, President and CEO
• Petri Strengell, Executive Vice President, Wood Processing – Wood Processing business unit
• Jani Roivainen, Executive Vice President, Analyzers – Analyzers business unit
• Kurt Bossuyt, Executive Vice President, Services – Services business unit
• Jari Myyryläinen, Chief Commercial Officer (CCO) – Sales & marketing, commercial excellence
• Marko Hjelt, Chief People Officer (CPO) – Human resources, people development, health & safety
• Minna Yrjönmäki, Chief Financial Officer (CFO) – Finance, ICT, IR, ESG, other business support

Following these changes, current Executive board members Mika Hyysti and Jukka Siiriäinen will leave the company by the end of this year. Timo Kangas will continue in the company in a new role, however outside of the Executive Board.

“The new organization structure will take Raute closer to our customers through dedicated business units and new commercial function. Raute will further strengthen its ability to deliver superior service to our customers, including successful project delivery, as well as advanced technology services tailored to customer needs. The new organization will streamline our ways of working and ensure focus on further development of Raute’s core competences. I’m pleased to welcome Jari Myyryläinen to join the Executive Board and wish the best of luck to all nominated Executive Board members in their roles. I want to thank warmly the departing Executive Board members Timo Kangas, Mika Hyysti and Jukka Siiriäinen for their excellent commitment and work in the Executive Board and the company over the past years”, says Mika Saariaho.

RAUTE CORPORATION
Mika Saariaho
President and CEO

FURTHER INFORMATION:
Mika Saariaho, President and CEO, tel. +358 40 154 9393
 

DISTRIBUTION:
Nasdaq Helsinki Ltd, main media, www.raute.com

RAUTE IN BRIEF:

Raute is a technology and service company that operates worldwide. Raute’s customers are companies operating in the wood products industry that manufacture veneer, plywood, LVL (Laminated Veneer Lumber) and sawn timber. Its technology offering covers the entire production process for veneer, plywood and LVL and special measurement equipment for sawn timber. As a supplier of mill-scale projects, Raute is a global market leader both in the plywood and LVL industries. Additionally, Raute’s full-service concept includes technology services ranging from spare parts deliveries to regular maintenance and equipment modernizations. Raute’s head office is located in Lahti, Finland. The company’s other production plants are located in Kajaani, Finland, the Vancouver area of Canada, Changzhou, China and in Pullman, Washington, USA. Raute’s net sales in 2021 were EUR 142.2 million. The Group’s headcount at the end of 2021 was 802. More information about the company can be found at www.raute.com.