Suominen Oyj - Changes board/management/auditors

Suominen renews its organization and composition of the Executive Team

Suominen Corporation’s stock exchange release on April 24, 2019 at 3.05 p.m. Finnish time

Suominen’s Board of Directors has decided on the company’s new organization and composition of the Executive Team, effective from July 1, 2019.

Suominen's new business areas will be Americas and Europe. Suominen has no reportable segments. The business of Suominen continues to consist of one operating segment.

“The new organization enables us to be more efficient, focused and agile, and this is important when we are striving to improve our profitability. We are now reviewing the focus of our strategy and taking measures to improve our performance, and these changes will support us in this development work,” says Petri Helsky, President and CEO of Suominen.

New executive appointment and changes in Suominen’s Executive Team

Suominen has today appointed Toni Tamminen (D.Sc.Technology, M.Sc. Economics) as CFO and a member of the Executive team. He joins Suominen from Metsä Tissue Corporation, where he has worked as VP, Group Controlling. CV of Toni Tamminen is attached to this release. 

“Toni Tamminen has a strong background in finance and business controlling, in large international organizations in addition to his expertise in the field of strategy and M&A. I am sure he will bring valuable insight and financial knowledge to Suominen,” says Petri Helsky, President and CEO.

As announced earlier, Suominen’s current CFO Tapio Engström will leave the company. His last day at Suominen will be May 3, 2019. Sirpa Koskinen, VP, Group Controller will act as an interim CFO until July 30, 2019, when Tamminen will start.

Various changes have been made also to the responsibilities of the members of Suominen’s Executive Team.

Ernesto Levy has been appointed Senior Vice President, Americas business area, he is currently SVP, Convenience business area.  

Markku Koivisto has been appointed interim Senior Vice President, Europe business area, he will continue also in his current role as CTO.

Lynda Kelly has been appointed Senior Vice President, Business Development, she is currently SVP, Care business area.

Larry Kinn, SVP, Operational Excellence, will retire in July 2019. Operational Excellence will be part of the Global Operations.

Composition of Suominen's Executive Team as of July 1, 2019:

• Petri Helsky, President and CEO
• Toni Tamminen, CFO (July 30, 2019 onwards)
• Ernesto Levy, SVP, Americas business area
• Markku Koivisto, CTO and interim SVP, Europe business area
• Lynda Kelly, SVP, Business Development
• Mimoun Saïm, SVP, Global Operations
• Hannu Sivula, SVP, Human Resources

All Executive team members report to Petri Helsky, President and CEO.

“I am confident that these changes will help us in building a new foundation for Suominen’s development and future,” says Petri Helsky.

“I want to thank Tapio for all his contribution to the company as CFO and as an interim President and CEO, and I wish him all the best in the future. I also want to  thank Larry for his valuable expertise and experience which he has been sharing to Suominen, thanks to his long career in nonwovens,” Helsky continues.

At the same time, Suominen will discontinue the Corporate Leadership Team.

Further information:
Petri Helsky, President and CEO, tel. +358 10 214 3080

SUOMINEN

Suominen manufactures nonwovens as roll goods for wipes as well as for medical and hygiene products. The end products made of Suominen’s nonwovens – wet wipes, feminine care products and swabs, for instance – bring added value to the daily life of consumers worldwide. Suominen is the global market leader in nonwovens for wipes and employs nearly 700 people in Europe and in the Americas. Suominen’s net sales in 2018 amounted to EUR 431.1 million. The Suominen share (SUY1V) is listed in Nasdaq Helsinki Stock Exchange (Mid Cap). Read more at www.suominen.fi.

Attachment

• CV_Tamminen

Attachments:

CV_Tamminen.pdf