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    SPINN   FI4000507595

SPINNOVA OYJ

(SPINN)
  Report
Delayed Nasdaq Helsinki  -  11:29 2022-09-30 am EDT
4.668 EUR   -1.19%
09/21Spinnova Plc : Change in Spinnova Board of Directors
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09/21Spinnova plc Announces Steeping Down of Timo Soininen as Member of Board of Directors, Effective September 30, 2022
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Spinnova Plc: Kim Poulsen appointed CEO of Spinnova, Janne Poranen appointed Chair and Harri Sundvik appointed Deputy Chair of Spinnova Board of Directors

06/14/2022 | 02:46am EDT

SPINNOVA PLC, COMPANY RELEASE, 14 JUNE 2022 at 9:45 a.m. EEST
 

Spinnova Plc: Kim Poulsen appointed CEO of Spinnova, Janne Poranen appointed Chair and Harri Sundvik appointed Deputy Chair of Spinnova Board of Directors 

The  Board of Directors of Spinnova Plc has appointed Kim Poulsen, M.Sc. (Econ.), as the Company's new CEO (b. 1966). He will assume his duties on 1 August, 2022.

At the same time, the Company's Board of Directors has appointed Spinnova's co-founder and current CEO Janne Poranen as the Chair of the Board of Directors and current Chair Harri Sundvik as as the Deputy Chair of the Board of Directors as of August 1, 2022.

Kim Poulsen's most recent executive leadership position was President of the Pulp & Paper segment and member of the Group Executive Management Team at Kemira Plc. He has a strong forest and materials industry background combined with years of international leadership experience with Kemira in the US (from 2018 to 2020) and in China (from 2015 to 2016). Prior to serving Kemira, Kim was a member of the Executive Board of UPM Plc and based in China (from 2013 to 2015) and in a senior leadership position at UPM Wood (from 2011 to 2013). Prior to UPM, Kim worked for Metsä Group from 1996 to 2010.

The Board of Directors of Spinnova Plc has appointed Janne Poranen as the the Chair of the Board of Directors, and Harri Sundvik as the Deputy Chair of the Board of Directors. In his role as Executive Chair, Poranen will focus on long-term value creation and continue to actively engage in key strategic initiatives and support relationships with the Company's strategic partners. As the Deputy Chair, Sundvik will focus on supporting long-term strategy formulation and engagement with the capital markets.

Chair of the Board Harri Sundvik comments: "The Board believes that Kim Poulsen is the best leader to assume the vitally important CEO role at this critical phase in Spinnova's development. Spinnova is executing a very demanding investment program over the next few years, and strengthening our commercial and strategic partnerships around the globe. We have every confidence that Kim will lead these efforts with success, and his skills and experience will inspire us all when we take Spinnova to the next level.

Janne Poranen advised us earlier in the spring that it is time for him to move from the operating CEO role to a new role, where he can focus on long term strategy to take Spinnova to the next level. In his new role as Chair of Spinnova Board of Directors, Janne's unique technology and leadership competence, combined with his passion and vision as one of the Founders, will drive us to achieve our aspiration of global sustainability leadership."

Kim Poulsen, CEO of Spinnova Plc as of 1 August 2022, comments, "I am very excited and honoured to join Spinnova's unique team and to drive the realisation of the Company's strategic vision together with the management team and the board. I believe that my strong global experience of the forest and materials industry will strengthen the Spinnova strategy execution through the next critical phases."

Harri Sundvik, Janne Poranen and Kim Poulsen will comment on these appointments at the beginning of the Spinnova 2022 Investor Day, 14 June at 14:30 EEST. To register, visit https://spinnovagroup.com/investorday2022/

Spinnova Plc

For further information, please contact:
Harri Sundvik, Chair
Tel. +358 20 703 2430
ir@spinnova.fi

Certified advisor:
Aktia Alexander Corporate Finance Oy
Tel. +358 50 520 4098

Distribution:
Nasdaq Helsinki
Key media

 

SPINNOVA - Sustainable textile materials, naturally

Spinnova transforms the way textiles are manufactured globally. Based in Finland, Spinnova has developed breakthrough technology for making textile fibre out of wood or waste, such as leather, textile or agricultural waste, without harmful chemicals.

The patented SPINNOVA® fibre creates zero waste and side streams or microplastics, and its CO2 emissions and water use are minimal. SPINNOVA® materials are quickly biodegradable and circular. Spinnova is committed to using only sustainable raw materials such as FSC certified wood and waste. SPINNOVA® fibre is produced without harmful or complex chemical processes, and has the touch and feel of natural fibres such as cotton and linen.

Spinnova has received awards from e.g. the Fast Company, ISPO, Scandinavian Outdoor, ANDAM, Monocle and Marie Claire UK.

Spinnova's shares (SPINN) are listed on the Nasdaq Helsinki First North Growth Market.

SPINNOVA® home: www.spinnova.com
Corporate & IR site: www.spinnovagroup.com

 

 

 

 

 

 

 

https://news.cision.com/spinnova/r/spinnova-plc--kim-poulsen-appointed-ceo-of-spinnova--janne-poranen-appointed-chair-and-harri-sundvik,c3584898

(c) 2022 Cision. All rights reserved., source Press Releases - English

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Financials
Sales 2022 32,0 M 31,4 M 31,4 M
Net income 2022 -6,21 M -6,09 M -6,09 M
Net cash 2022 75,3 M 73,8 M 73,8 M
P/E ratio 2022 -38,9x
Yield 2022 -
Capitalization 240 M 235 M 235 M
EV / Sales 2022 5,14x
EV / Sales 2023 2,93x
Nbr of Employees 69
Free-Float 64,2%
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Mean consensus HOLD
Number of Analysts 1
Last Close Price 4,67 €
Average target price 7,00 €
Spread / Average Target 50,0%
EPS Revisions
Managers and Directors
Kim Peter Poulsen Chief Executive Officer
Ben Selby Chief Financial Officer
Janne Tapani Poranen Executive Chairman
Juha Matti Salmela Director & Chief Technology Officer
Petri Poranen Chief Operating Officer
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