Valmet Corporation announced that Mikael Mäkinen is elected as a new Board member and Chairman of the Board. Bo Risberg, Chairman of the Valmet Board of Directors, has informed the company in August 2018 that he will not be available for re-election to the Board of Directors in the next Annual General Meeting. Bo Risberg has served as the Chairman of Valmet's Board of Directors since 2015. The Nomination Board notes that the proposed new Chairman of the Board, Mikael Mäkinen, is evaluated as being independent of the company and the significant shareholders. Mikael Mäkinen works as President, Marine at Rolls-Royce Plc since 2014. He is a member of the Rolls-Royce Executive Team. Prior to this, Mäkinen was President of MacGregor during 2012-2014 and President and CEO of Cargotec Corporation during 2006-2012. He held several positions within Wärtsilä Group between 1982-2006.