UPM announced changes to its Group Executive Team as long-time Chief Financial Officer and Executive Vice President of UPM Energy Tapio Korpeinen prepares to retire at the end of 2026 after more than two decades with the company. Korpeinen will remain connected to the organization as a Senior Advisor through mid-2027, while UPM begins identifying successors for both the CFO and UPM Energy leadership roles.
Korpeinen has played a central role in UPM’s transformation and financial strategy during his 22 years with the company. UPM President and CEO Massimo Reynaudo credited his leadership for contributing to shareholder value creation and guiding the development of the company’s energy business during a period of major change across the global forest products sector.
As part of its forward strategy, UPM has also created a new executive role focused on corporate transformation. Risto Penttinen will join the Group Executive Team as Executive Vice President of Transformation beginning April 13, 2026. Penttinen brings extensive experience in strategy and organizational change from leadership roles at Fortum, Uniper, and McKinsey & Company, and will help guide the company’s next phase of strategic development.
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