Jussi Pesonen of UPM Wins RISI European CEO of the Year Award for the Pulp and Paper Industry

BRUSSELS, January 24, 2011 /PRNewswire/ --

RISI, the leading information provider for the forest products industry, today announced that Jussi Pesonen, President and CEO of UPM, has been selected as the RISI European CEO of the Year for the pulp and paper industry for 2011. The award will be presented at RISI's 13th European Pulp and Paper Outlook Conference in Amsterdam on March 15-17, 2011.

(Logo: http://photos.prnewswire.com/prnh/20080521/NEW122LOGO )

European analysts and portfolio managers covering the forest products industry choose the European CEO of the Year annually through a survey organized by RISI. The criteria for nomination include leadership, vision and strategic accomplishment. This is the second time that Mr. Pesonen has won this prestigious award, having first received the title in 2007.

Describing the reason behind Mr. Pesonen's nomination, one analyst commented, "UPM's recent entering into the agreement to acquire the Myllykoski Corporation and Rhein Papier signals that under Pesonen's leadership the company is proving itself to be the ultimate trailblazer of consolidation in European industry, something that is vital as the industry goes forward out of recession and back into profitability."

Another analyst pointed to Mr. Pesonen's track record of implementation, saying "Pesonen is showing clear vision in a number of ways, strategic acquisitions in paper, CAPEX spending in low cost pulp production in Latin America, and investment in C02 free energy production in Finland. What impresses me is that he is not talking about all these opportunities, he is actually doing them."

"It's a great honour to accept this award and now even for the second time. I consider this recognition for UPM's commitment to transform and develop the company and also the whole industry. As the Biofore Company, we want to have a leading role in building a sustainable future with innovative products and new ways to operate," said Jussi Pesonen.

Mr. Pesonen has held the position of President and CEO since January 2004. Born in 1960, he has a Master of Science degree in engineering in process technology from the University of Oulu, Finland. Mr. Pesonen joined UPM in 1987 as a production engineer, advancing rapidly into leading management posts in various paper business areas including Vice President of the Newsprint Product Group and COO of the paper divisions. He has also served as deputy to the President and CEO in 2001-2004.

He is the Vice Chairman of the Confederation of European Paper Industries (CEPI) and the Finnish Forest Industries Federation (FFIF). He also serves on the boards of UPM and the stainless steel company Outokumpu Oyj.

RISI's European CEO of the Year Award was inaugurated in 2007 and the first winner was Mr. Pesonen. Jouko Karvinen of Stora Enso won the award in 2008 and again in 2010. Christian Rynning-Tønnesen of Norske Skog won in 2009. RISI also runs regional CEO of the Year Awards in Latin America, Asia and North America and a Global CEO Award as part of the annual PPI Awards program.

For more information on the RISI European Pulp & Paper Outlook Conference, visit http://www.risi.com/euroconf.

About UPM

UPM leads the integration of bio and forest industries into a new, sustainable and innovation-driven future. Our products are made of renewable raw materials and are recyclable. UPM consists of three Business Groups: Energy and pulp, Paper, and Engineered materials. The Group employs around 23,000 people and it has production plants in 15 countries. In 2009, UPM's sales amounted to EUR 7.7 billion. UPM's shares are listed on the Helsinki stock exchange. UPM - The Biofore Company - http://www.upm.com.

About RISI

RISI is the leading information provider for the global forest products industry. The company works with clients in the pulp and paper, wood products, timber, biomass, tissue, nonwovens, printing and publishing industries to help them make better decisions.

Headquartered in Boston, MA, RISI operates additional offices throughout North and South America, Europe and Asia. More information can be found at http://www.risi.com.

    
    Contact:
    Jennifer Plourde
    Associate Marketing Manager
    RISI
    4 Alfred Circle
    Bedford, MA 01730 USA
    Tel: +1-781-734-8917
    jplourde@risi.com