FORTUM CONTINUES IMPLEMENTATION OF STRATEGY – LAUNCHES NEW PAN-NORDIC BUSINESS APPROACH

Fortum launches new business approach in the Nordic power and heat industry. The overall structure of the new organisation has been established and new business unit heads appointed. The organisation will take effect when the business unit management teams are in place.

 

Today, the new organisation and business unit heads of Fortum’s power and heat related businesses were presented. The units will have a true pan-Nordic approach to their operations and their heads will be based both in Finland and Sweden. The oil businesses will be run as before.

 

“ We have started a process that will transform two well-functioning companies into one excellent entity and into a clear leader of the Nordic power and heat industry”, said Tapio Kuula, President of Fortum Power and Heat, who is responsible for the implementation of the new approach.

 

“We will be the first to create one organisation addressing the common Nordic energy market. The organisation will be based on business logic, not on geography, and above all we will be customer driven. These factors have influenced where the business unit heads will be located. We are convinced that our approach will be beneficial to customers, employees and shareholders alike, and expect an annual improvement potential of some 100 million Euros”, Tapio Kuula said today.

 

The new business unit heads and their locations are:

 

Generation                                                                       Pekka Päätiläinen, Helsinki

Heat                                                                                Risto Riekko, Helsinki

Portfolio Management & Trading                                         Timo Karttinen, Helsinki

Distribution                                                                       Anders Lehman, Stockholm

Markets                                                                           Kari Huopalahti, Stockholm

Energy Solutions                                                              Eero Auranne, Helsinki

 

Åke Petterson will continue as head of Birka Värme and Bo Lindfors as head of the Gas unit.

 

In addition, Jouni Keronen has been appointed head of IT (CIO) and will be located in Helsinki.

 

Tomas Bruce, the present CEO of Birka Energi, will stay in his position until the new organisation is in place. Further on he will continue to play a leading role in Birka Värme Holding AB, a joint venture with the City of Stockholm. He will also represent Fortum in important national and international organisations.

 

Fortum has no plans of changing the legal structure of Birka Energi AB, which it is committed to manage in full recognition of its obligations to bondholders and other lenders.

 

 

 

Fortum Oyj

Corporate Communications

 

 

For more information, please contact:

 

Mr Tapio Kuula, President, Power and Heat Sector             

tel. +358 10 45 24112

 

Ms Carola Teir-Lehtinen, Senior Vice President, Corporate Communications

tel. +358 1045 24118