Fortum - Changes board/management/auditors

Pekka Lundmark appointed Fortum's new President and CEO

Espoo, Finland, 2015-04-02 07:46 CEST (GLOBE NEWSWIRE) -- FORTUM CORPORATION
STOCK EXCHANGE RELEASE 2 April 2015 at 8:46 EEST 

Pekka Lundmark, M.Sc. (Eng.), 51, has been appointed President and CEO of
Fortum Corporation. He will start at Fortum in the beginning of September 2015,
and will transfer from Konecranes Plc, where he has been President and CEO for
the past ten years. Previously he has been President and CEO of Hackman Oyj Abp
in 2002 - 2004 and has held various executive positions at Nokia Corporation in
1990 - 2000. "Fortum will continue to implement its strategy and is ready to take growth
steps in its core competence areas: hydro power, nuclear power and combined
heat and power generation. We will also develop electricity sales business and
related services for consumers. Geographically, we are mainly focusing on our
current home markets, and additionally, we are assessing opportunities in the
EU's integrating energy markets. We will pursue interesting opportunities to
take part in the construction of power plants, but, more likely is that a
significant part of our growth in the upcoming years will come through energy
sector restructuring processes and mergers and acquisitions," says Sari
Baldauf, Chairman of Fortum's Board of Directors. "Pekka Lundmark has wide-ranging management experience and a strong track
record in the successful development of international business. In the
selection process, we were impressed by his capability to both clearly
conceptualize and implement strategy, and his experience in mergers and
acquisitions. In addition, his leadership skills and his experience as a CEO of
a prominent publicly listed company were emphasised. The Board of Directors
believes that the cooperation of Pekka Lundmark and Fortum's Executive
Management, which has excellent and wide-ranging experience of the energy
sector, will position the company as a strong energy sector leader for the
future," Baldauf continues. "The energy sector is going through a very interesting transition period. It is
also in many ways in the heart of the development of modern society. I am
strongly committed to continue Fortum's work to increase the generation of
CO2-free energy. Fortum's exceptionally strong balance sheet provides good
premises for future investments in growth, clean energy and the development of
new services. I am enthusiastically looking forward to start working with
Fortum's skilled personnel and management team," says Pekka Lundmark, Fortum's
future President and CEO. 

For more information, please contact:
Pekka Lundmark, future President and CEO, Fortum Corporation
Sari Baldauf, Chairman of the Board, Fortum Corporation
Call back requests: Gun Wangel, Executive Assistant, tel. +358 50 452 4121


Fortum Corporation
Helena Aatinen
Senior Vice President, Corporate Communications, tel. +358 10 45 20480

Communications contact also:
Fortum Media Desk +358 40 198 2843

Analysts and investors:
Sophie Jolly, Vice President, Investor Relations, tel. +358 10 45 32552

Distribution:
Nasdaq Helsinki
Key media
www.fortum.com

CV - Pekka Lundmark
Born 1963
Nationality: Finnish
Master of Science (Eng.), Helsinki University of Technology, Department of
Technical Physics, 1988 
Married, three children
e-mail: pekka.lundmark@konecranes.com

Professional experience

Konecranes Plc, President and CEO, June 2005 -
Konecranes is a world-leading group of Lifting Businesses(TM), serving a broad
range of customers, including manufacturing industries, steel mills, paper and
pulp industry, power plants, shipyards, ports and terminals. Konecranes
improves the safety and productivity of customers' operations with a wide range
of lifting solutions and services. In 2014, the Group sales totalled EUR 2,011
million. The Group has 12,000 employees at 600 locations in 48 countries.
Konecranes is listed on Nasdaq Helsinki (symbol: KCR1V). www.konecranes.com 

Konecranes Plc, Group Executive Vice President, 2004 - 2005

Hackmann Oyj Abp, President and CEO, 2002 - 2004

Startupfactory Oy, Managing Partner, 2000 - 2002

Nokia Corporation, various executive positions, 1990 - 2000

Attachment: Picture of Pekka Lundmark

Fortum
Fortum's purpose is to create energy that improves life for present and future
generations. Catering to the versatile needs of our customers, we generate,
distribute and sell electricity and heat, and offer related expert services.
Our operations focus on the Nordic and Baltic countries, Russia and Poland. In
2014, Fortum's sales totalled EUR 4.75 billion and comparable operating profit
was EUR 1.35 billion. We employ approximately 8,800 people. Fortum's shares are
traded on the Nasdaq Helsinki. www.fortum.com