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    UPONOR   FI0009002158

UPONOR OYJ

(UPONOR)
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Uponor Oyj : appoints Michael Rauterkus as President and CEO

05/05/2021 | 09:01am EDT

Uponor Corporation     Inside information     5 May 2021     16:00 EET

Uponor appoints Michael Rauterkus as President and CEO

Uponor’s Board of Directors has appointed Michael Rauterkus as President and CEO of Uponor Group and Chairman of the Executive Committee. He will join the company and assume the CEO responsibility on 21 August 2021.

Michael Rauterkus has long experience, wide knowledge and good networks from the industry, as his most recent operative role was the CEO of Grohe AG, a German sanitary technology manufacturer. During his tenure as CEO in 2015-2019, he developed Grohe into a global leader of bathroom and kitchen solutions. Prior to this, he has worked in various roles at Grohe since 2006. Earlier in his career he has been working for companies like in Hasbro Inc., Levi Strauss & Co., Kraft Jacobs Suchard (now Mondelez).

“I am very pleased that Michael Rauterkus has accepted the assignment to lead Uponor into the next phase and I look forward to working with him. Michael is a seasoned visionary leader with strong strategic competence. He understands the dynamics of our industry inside out”, says Annika Paasikivi, Chair of the Board of Directors, Uponor Corporation.

“I am very excited to join Uponor, a leading iconic brand in the industry with a global presence. I love this industry as water delivery and energy efficiency are essential for everyday life of people. I look forward to learning the Uponor business, meeting the Uponor teams in the markets, visiting the production sites and discussing with our customers and shareholders of Uponor’s future plans. It is a great opportunity to lead over 100-years old Uponor to its next development phase”, says Michael Rauterkus.

Uponor announced on 12 February 2021 that Jyri Luomakoski will leave his position as President and CEO on 20 August 2021.

Uponor Corporation

Board of Directors

ADDITIONAL INFORMATION:
Annika Paasikivi, Chair of the Board of Directors, annika.paasikivi@orasinvest.fi
Contacts through Anniina Myllyperkiö, tel. +358 50 597 0039


DISTRIBUTION:
Nasdaq Helsinki
Media
www.uponorgroup.com


Uponor in brief
Uponor is rethinking water for future generations. Our offering, including safe drinking water delivery, energy-efficient radiant heating and cooling and reliable infrastructure, enables a more sustainable living environment. We help our customers in residential and commercial construction, municipalities and utilities, as well as different industries to work faster and smarter. Uponor employs about 3,700 professionals in 26 countries in Europe and North America. In 2020, Uponor's net sales totalled approximately €1.1 billion. Uponor Corporation is based in Finland and listed on Nasdaq Helsinki. www.uponorgroup.com


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© OMX, source GlobeNewswire - EU Press Releases

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P/E ratio 2021 19,8x
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Last Close Price 23,96 €
Spread / Highest target 16,9%
Spread / Average Target 2,25%
Spread / Lowest Target -24,9%
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NameTitle
Jyri Harri Luomakoski President & Chief Executive Officer
Minna Yrjönmäki Chief Financial Officer
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Markus Lengauer Deputy Chairman
Pia Aaltonen-Forsell Independent Director
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