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    STERV   FI0009005961

STORA ENSO OYJ

(STERV)
  Report
Delayed Nasdaq Helsinki  -  11:29:47 2023-02-03 am EST
14.16 EUR   +0.60%
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Change in Stora Enso's Group Leadership Team

11/18/2022 | 03:01am EST

STORA ENSO OYJ STOCK EXCHANGE RELEASE 18 November 2022 at 10:00 EET

Jari Suominen, Executive Vice President (EVP), Forest division and a member of the Group Leadership Team, has decided to leave Stora Enso. After more than 25 years with the Company, Jari will now pursue career opportunities outside of Stora Enso. Per Lyrvall, currently EVP Legal, has been appointed as new EVP Forest division. Per will assume the role beginning of December and continue as a member of the Group Leadership Team (GLT).

Jari Suominen joined Stora Enso in 1995 and has led the Company's Forest division since its inception in 2020. Previous to that, Jari was EVP and head of Stora Enso's Wood Products division since 2014.

 

"I would like to thank Jari for all his contributions in Stora Enso throughout the years, it has been a true pleasure working together. Jari has driven transformation in the Wood Products division setting up our Building Solutions business, and now lately established the new Forest Division. On behalf of all colleagues, I would like to wish him success and good luck in his future endeavours," says Stora Enso's President and CEO Annica Bresky.

 

"After a long and rewarding career at Stora Enso it's now time for me to take the next step. I am very grateful for the opportunities that I have had in the company and of course all the fantastic colleagues that I have been fortunate enough to work with over the years," says Jari Suominen.

 

Per Lyrvall joined the company in 1994 and has been a member of the GLT since 2012 and General Counsel since 2008. Per will continue his current responsibilities as Stora Enso country head in Sweden in addition to the new role as head of the Forest division.

"I am excited to take on the opportunity to lead the Forest division. Our forest assets and operations are at the very foundation of our growth platform. I look forward to continuing Jari Suominen's work to advance our forestry operations with focus on sustainability, biodiversity and wood supply services that support Stora Enso's strategic ambitions," says Per Lyrvall.

 

The search for a new General Counsel has been initiated. In the interim period Christian Swartling, currently Senior Vice President Group Legal, will assume the acting role in the position.

For further information, please contact:
Carl Norell

Press officer

tel. +46 72 241 0349


Investor enquiries:
Anna-Lena Åström
SVP Investor Relations
tel. +46 70 210 7691
 


Part of the global bioeconomy, Stora Enso is a leading provider of renewable products in packaging, biomaterials, wooden construction and paper, and one of the largest private forest owners in the world. We believe that everything that is made from fossil-based materials today can be made from a tree tomorrow. Stora Enso has approximately 22,000 employees and our sales in 2021 were EUR 10.2 billion. Stora Enso shares are listed on Nasdaq Helsinki Oy (STEAV, STERV) and Nasdaq Stockholm AB (STE A, STE R). In addition, the shares are traded in the USA as ADRs (SEOAY). storaenso.com/investors

STORA ENSO OYJ

For further information, please contact:
Carl Norell
Press officer
tel. +46 72 241 0349

Investor enquiries:
Anna-Lena Åström
SVP Investor Relations
tel. +46 70 210 7691

https://news.cision.com/stora-enso-oyj/r/change-in-stora-enso-s-group-leadership-team,c3669168

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

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Financials
Sales 2022 11 638 M 12 630 M 12 630 M
Net income 2022 1 290 M 1 400 M 1 400 M
Net Debt 2022 2 114 M 2 294 M 2 294 M
P/E ratio 2022 8,89x
Yield 2022 4,38%
Capitalization 11 306 M 12 269 M 12 269 M
EV / Sales 2022 1,15x
EV / Sales 2023 1,22x
Nbr of Employees 22 000
Free-Float 85,4%
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Mean consensus OUTPERFORM
Number of Analysts 12
Last Close Price 14,16 €
Average target price 15,46 €
Spread / Average Target 9,21%
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Managers and Directors
Annica Bresky President & Chief Executive Officer
Seppo Matti Parvi Chief Financial Officer
Antti Mikael Mńkinen Chairman
Hock Goh Independent Director
Elisabeth Fleuriot Independent Director
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