Tornator Oyj

Stock exchange release 

Vantaa, Finland, 17 June 2019 at 09:00 CEST --  

Henrik Nieminen (49), (MSc (Econ), EMBA), currently the Deputy CEO of Tornator Oyj, has been appointed as the new CEO of the company. Nieminen will step into his new position today, on 17 June 2019. He has been working for Tornator since it was founded in 2002.

The Board of Directors and the current CEO, Sixten Sunabacka, have mutually agreed that he will step down from his current position. The change has the full backing of Sunabacka, who will continue to work for Tornator as Senior Adviser until the end of 2019.

”Together, we have been able to grow and diversify the company intensively over the last few years. The long-term strategy introduced early this year will provide Tornator with strong opportunities to continue its development. I wish the new CEO, who is a long-standing colleague of mine, success in leading this fine company,” says Sixten Sunabcka.

”During his period as the CEO, Sixten Sunabacka has markedly developed the company and made important strategic changes. It's been great to work alongside a committed and change-driven world-class professional in the forest sector. On behalf of the entire Board, I would like to give Sixten my warmest thanks for the work he has done to develop Tornator," says Mikko Koivusalo, Chairman of the Board. ”Henrik Nieminen will take charge of a highly profitable company that is in good shape.”

”I have known the company and its expert staff for a long time. Tornator has excellent opportunities to be a forerunner in responsible forestry,” affirms Nieminen.

Tornator Oyj

Board of Directors

For further details, contact:

Mikko Koivusalo, Chairman of the Board, tel. +358 (0)40 554 2317

Henrik Nieminen, CEO, tel. +358 (0)40 869 7613

Tornator Oyj

Tornator is Europe's leading specialist in sustainable forestry. It owns forestland in Estonia and Romania as well as in Finland. In 2018, the group had net sales of EUR 113 million and around EUR 1.6 billion on its balance sheet. It directly employs around 180 people. Tornator's own employees, and other companies and their employees working on its forestland, add up to around 1,000 person-years of employment. The owners of the parent company are Finnish, mainly institutional investors. Tornator's mission is to generate sustainable well-being from forests.