Change in Valmet's Executive Team: CFO Kari Saarinen leaves Valmet

News provided by

11 Apr, 2022, 12:37 GMT

Change in Valmet's Executive Team: CFO Kari Saarinen leaves Valmet

HELSINKI , April 11, 2022 /PRNewswire/ -- Valmet Oyj's stock exchange release on April 11, 2022 at 3:30 p.m. EEST

Kari Saarinen has decided to resign from his position as Valmet's CFO due to his share trades in Neles during the merger process and to minimize the negative impacts of this on Valmet's reputation. All Executive Team members should have used good judgement and refrained from trading in shares while merger discussions and preparations were ongoing. The employment relationship will end in accordance with Kari Saarinen's executive agreement, while his working obligation ends at the end of April.

"I respect Kari's decision in this situation. Kari has had a long and successful career at Valmet and he is a highly regarded and well respected colleague. We all will miss Kari and his sense of humor, his dedication and his energy. I thank Kari for his significant contribution to making Valmet a successful company in all these years," says Pasi Laine, President and CEO.

"I thank all my colleagues for these great years at Valmet. In this situation, I feel it is best for the company to leave my position. I have felt privileged to be involved in building a successful and continuously developing Valmet with strong financial performance, and the value of this experience will remain," says Kari Saarinen.

The recruitment process for Kari Saarinen's successor will commence shortly. An interim solution will be announced as soon as possible.

Further information, please contact:

Anu Salonsaari-Posti, Senior Vice President, Communications and marketing, Valmet, tel. +358 50 453 4262

VALMET

Corporate Communications

DISTRIBUTION:

Nasdaq Helsinki

Major media

www.valmet.com

Valmet is a leading global developer and supplier of process technologies, automation and services for the pulp, paper and energy industries. With our automation systems and flow control solutions we serve an even wider base of process industries.

We aim to become the global champion in serving our customers. Our 17,000 professionals work close to our customers and are committed to improving our customers' performance - every day.

The company has over 220 years of industrial history and a strong track record in continuous improvement and renewal. In 2022, a major milestone was achieved, when flow control company Neles was merged into Valmet. The combined company net sales in 2021 was approximately EUR 4.5 billion based on the respective company figures.

Valmet's shares are listed on the Nasdaq Helsinki and the head office is in Espoo, Finland.