UPM's Chief Financial Officer and Executive Vice President, UPM Energy Tapio Korpeinen has expressed his intent to retire from his positions and the UPM Group Executive Team at the end of 2026 after reaching his contractual retirement age and continue as Senior Advisor until mid-2027. The company has initiated the succession plans, and will search for successors for both the Chief Financial Officer and Executive Vice President, UPM Energy positions separately. Risto Penttinen has been appointed Executive Vice President, Transformation and member of the UPM's Group Executive Team as of April 13, 2026.
He will report to Massimo Reynaudo, President and CEO. Risto Penttinen, born 1968, has a master's degree in international business. He has worked in various senior management roles at Fortum and Uniper in 2011-2024, also as a member of Fortum's executive team.
Prior to this, he worked as a consultant and partner at McKinsey & Company for 14 years. He currently works as an independent consultant.
