Massimo Reynaudo has been appointed president and CEO at UPM-Kymmene Corporation, effective 1 January, 2024.
Mr Reynaudo has been with UPM since 2017, and is currently executive vice president, UPM Communication Papers. Prior to that, he served as senior vice president of UPM Raflatac from 2017 to 2021. Earlier in his career, between 1995 and 2017, he held several senior positions at Kimberly-Clark.
Henrik Ehrnrooth, chair of the board at UPM, said, ‘Massimo has an excellent international background and a very solid track record at UPM as an engaging change leader. Both in UPM Raflatac and in UPM Communication Papers, he has driven positive change of the businesses, renewed the commercial strategy and built high-performing teams to improve the performance of each business. He has a clear vision of how to continue value creation through UPM’s Biofore strategy. I wish Massimo the best of success in his new demanding role.’
Jussi Pesonen will continue in the role of president and CEO until 31 December, 2023, after which he will work as an advisor to the company and its management until he will retire from UPM on 30 April, 2024.
‘I do not have words to express my deep gratitude to all UPMers,’ stated Mr Pesonen. ‘Together, we have come a long way and reinvented UPM to the benefit of all our stakeholders. I am extremely proud of all that we have achieved during the last twenty years. I am very confident that UPM has a great future ahead under the excellent leadership of the board and Massimo Reynaudo. I also wish to thank wholeheartedly the former chairman, Björn Wahlroos, and all my executive team members. Success would not have been possible without the constant support from my closest ones, my family, to whom I am immensely grateful.’
Mr Ehrnrooth continued, ‘Jussi has had a long and successful tenure as president and CEO, almost 20 years. He took over a traditional, Finland-focused printing paper company and transformed it to an innovative, renewable materials company with international growth. As Massimo now takes over the leadership of the company, it has a competitive and agile operating model, effective capital allocation principles, strong leadership culture, and a proven leadership position in sustainability. I’m sure these will support the continued success of the company.’
Mr Reynaudo said, ‘UPM has a good operating model and very committed employees. Together we will continue to implement our strategy and create a future beyond fossils.’
