UPM combines Finance and Control and Corporate Strategy under one management; Tapio Korpeinen appointed CFO and Head of Corporate Strategy

UPM-Kymmene Corporation   Stock exchange release  31 March 2010  at 12:00       

UPM combines Finance and Control and Corporate Strategy under one management;   
Tapio Korpeinen appointed CFO and Head of Corporate Strategy                    

UPM combines its Group level Finance and Control and Strategy under one         
management. At the same time the company strengthens the long term strategy     
development of its Business Groups by appointing senior level strategists into  
the Management Teams of its Paper as well as Energy and Pulp Business Groups.   

The change supports UPM's transformation and enhances the business focus of     
strategy development.                                                           

The following appointments will take effect as of 1 May 2010:                   

Mr Tapio Korpeinen has been appointed Chief Financial Officer (CFO). He will    
also be responsible for Corporate Strategy. Korpeinen is currently the President
of the Energy and Pulp Business Group and has previously been the Executive Vice
President, Strategy. He continues to be a Member of the Group Executive Board   
and reports to Mr Jussi Pesonen, President and CEO.                             

Korpeinen will also be responsible for the strategic holding in the energy      
company Pohjolan Voima as well as UPM's Sourcing and Logistics, as well as      
Information Technology functions.                                               

UPM's current CFO Mr Jyrki Salo will leave the company on his own initiative and
by mutual agreement. "For four years Jyrki Salo has been an important           
contributor to UPM's extensive restructuring. He has introduced the global      
process thinking into the company and has been one of the key drivers of change 
in the company, for which I wish to express my sincere gratitude," says Jussi   
Pesonen.                                                                        

Mr Heikki Vappula has been appointed President, Energy & Pulp Business Group and
Member of the Group Executive Board reporting to the CEO. Vappula is responsible
for UPM's Sourcing since 2006. Prior to that he held several business management
positions in Nokia's different businesses.                                      

Ms Anu Ahola has been appointed Senior Vice President, Strategy Development,    
Paper Business Group. She will report to Mr Jyrki Ovaska, President, Paper      
Business Group.                                                                 

Mr Martin Björnström has been appointed Senior Vice President, Strategy         
Development, Energy and Pulp Business Group. He will report to Heikki Vappula,  
President, Energy and Pulp Business Group.                                      

Mr Kari Ståhlberg has been appointed Senior Vice President, Corporate Strategy. 
He reports to Tapio Korpeinen.                                                  

UPM-Kymmene Corporation                                                         
Pirkko Harrela                                                                  
Executive Vice President, Corporate Communications                              

UPM, Corporate Communications                                                   
Media Desk, tel. +358 40 588 3284                                               
communications@upm-kymmene.com                                                  

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