- Tapio Korpeinen to retire as CFO and EVP, UPM Energy by end of 2026.
- Korpeinen will continue as Senior Advisor until mid-2027.
- Risto Penttinen appointed EVP, Transformation starting April 13, 2026.
- Succession plans for CFO and EVP, UPM Energy are in progress.
Retirement Announcement
UPM's CFO and EVP, UPM Energy, Tapio Korpeinen, will retire at the end of 2026 after reaching his contractual retirement age. He will continue as a Senior Advisor until mid-2027.
Succession Planning
The company has initiated succession plans to find separate successors for the roles of Chief Financial Officer and Executive Vice President, UPM Energy.
New Appointment
Risto Penttinen has been appointed as Executive Vice President, Transformation, and will join UPM's Group Executive Team on April 13, 2026. He will report to Massimo Reynaudo, President and CEO.
Background of Risto Penttinen
Risto Penttinen holds a master's degree in international business and has extensive experience in strategy and organizational change. He has held senior management roles at Fortum and Uniper and was a consultant and partner at McKinsey & Company.
