Spinnova Oyj roposes to Spinnova's Annual General Meeting to be held on 5 May, 2022 that Janne Poranen and Sari Pohjonen will be appointed as new members of the Board of Directors. Ilkka Kivimäki will step down from his role as Board member after the Annual General Meeting 2022. Spinnova's co-founder Poranen will continue in the Chief Executive Officer role until the new Chief Executive Officer is appointed and commences his or her employment at the company.

After that, Poranen will focus on steering Spinnova's two important joint venture companies Woodspin Oy and Respin Oy as the Chair of the Board of both companies in his new position as Executive Director, Technology Upscaling and Strategy. The Board of Directors has commenced the search for a new Chief Executive Officer. In addition to the proposed membership in Spinnova's Board, Poranen will start in a new role as Executive Director, Technology Upscaling and Strategy.

Poranen will continue to lead both Woodspin's and Respin's Boards as the Chairman. In this position Poranen will focus on overseeing technology upscaling and growth of the joint ventures' production capacity, as well as managing senior relationships with strategic partners. In this role Poranen will report to the new Spinnova CEO.

The Board of Directors has commenced a search for an experienced, international growth-oriented Chief Executive Officer who will continue to drive the growth of Spinnova and the operational execution of the company's strategy along with the company's co-founder and Chief Technology Officer Juha Salmela and the rest of the management team.