- STORA ENSO OYJ STOCK EXCHANGE RELEASE 4
December 2019 at 9.00 EET
HELSINKI, Dec. 4, 2019 /PRNewswire/ -- Stora Enso is
merging its container board business in the Packaging Solutions
division with the Consumer Board division, creating a new Packaging
Materials division. The remaining business in Packaging Solutions
together with Stora Enso's recently created formed fiber unit, will
constitute a more focused Packaging Solutions division. The change
is effective as of 1 January 2020.
Based on the new structure, 2018 sales for the Packaging Materials
division were approximately EUR 3 400 million and for
Packaging Solutions EUR 700 million.
The restated figures for the new divisional structure will be
published during the first quarter of 2020.
Hannu Kasurinen is appointed EVP, Head of Consumer Board
and member of the Group Leadership Team, with immediate effect and
as of 1 January 2020, EVP, Head of
Packaging Materials. Gilles van Nieuwenhuyzen will
leave his position as EVP Packaging Solutions on 6 December 2019 to pursue new career
opportunities outside the company. The search for a new divisional
head for Packaging Solutions will be initiated. David Ekberg, currently SVP and head of
Business Unit Corrugated Nordics in the division, is taking on the
role as acting Head of Packaging Solutions as of 6 December 2019.
"As the development towards a circular bioeconomy is
accelerating in society, we are creating an organisation that
further strengthens our ability to drive innovation and
sustainability with a common agenda. The Packaging Materials
division will provide an even stronger customer offering for
converters, brand owners and retailers containing both virgin and
recycled board material. For Packaging Solutions, we are increasing
our focus on growing new services and packaging solutions as well
as innovation collaborations throughout the value chain for
developing new renewable packaging. One example is our new formed
fiber business, which will be included in the Packaging Solutions
division. We will also be able to focus more on renewable packaging
design," says Stora Enso President and CEO Annica Bresky.
Hannu Kasurinen was previously SVP, Liquid Packaging and Carton
Board in the Consumer Board division. He has held several
leadership positions in Stora Enso, including Group Treasurer, SVP
of Strategy and EVP of Wood Products division.
"Hannu Kasurinen has long and diverse experience of working in
demanding leadership positions in Stora Enso, previously including
also a position in the Group Leadership Team. I am very happy to
appoint him to our Group Leadership Team again. I am confident that
his experience will be a valuable asset to the team, when we
continue on our transformation journey as the renewable materials
company," says Annica Bresky.
"I am looking forward to continuing to build our Packaging
Materials business together with our customers. Circularity is an
integral part of Stora Enso's business and a key driver for our
product development. We will continue to innovate and answer
consumers' expectations for renewable, recyclable, fiber-based
packaging materials with a low carbon footprint," Hannu Kasurinen
concludes.
"I thank Gilles van Nieuwenhuyzen
for his valuable contributions in developing our packaging business
during his years with Stora Enso," Annica
Bresky concludes.
Part of the bioeconomy, Stora Enso is a leading global provider
of renewable solutions in packaging, biomaterials, wooden
constructions and paper. We believe that everything that is made
from fossil-based materials today can be made from a tree tomorrow.
Stora Enso has some 26 000 employees in over 30 countries. Our
sales in 2018 were EUR 10.5 billion.
Stora Enso shares are listed on Nasdaq Helsinki (STEAV, STERV) and
Nasdaq Stockholm (STE A, STE R). In addition, the shares are traded
in the USA as ADRs (SEOAY).
storaenso.com
STORA ENSO OYJ
For further information, please contact:
Ulrika Lilja
EVP, Communications
tel. +46-72-221-9228
Investor enquiries:
Ulla
Paajanen
SVP, Investor Relations
tel. +358-40-763-8767
This information was brought to you by Cision
http://news.cision.com
https://news.cision.com/stora-enso-oyj/r/changes-to-stora-enso-s-consumer-board-and-packaging-solutions-divisions,c2981608
The following files are available for download:
https://news.cision.com/stora-enso-oyj/i/packaging,c2724065
|
Packaging
|
https://news.cision.com/stora-enso-oyj/i/stora-enso-cb-head,c2724066
|
Stora Enso CB
Head
|