Fortum will reorganize its operations into 12 business units instead of the current 26 performance units. The new business units (BUs) will form more natural entities in well-defined industry segments. At the same time, each unit will have a critical mass allowing for own strategic targets and more independent operations. The new business structure (enclosed) is aligned with Fortum´s strategic direction and emphasises line responsibility.
The new Business Units and their leaders are:
Oil Sector Veli-Matti Ropponen
Exploration and Production Hans-Kristian Röd
Oil Refining Risto Rinne
Oil Retail Matti Peitso
Shipping Jukka Laaksovirta
Power and Heat Sector Tapio Kuula
Generation Pekka Päätiläinen
Power Portfolio Management and Trading Timo Karttinen
Heat Risto Riekko
Gas Bo Lindfors
Distribution Tapio Lehtisalo
Birka Energi (Sweden) (Tomas Bruce)
The other business units are Fortum Energy Solutions (FES) lead by Mr Eero Auranne and Fortum Markets lead by Mr Kari Huopalahti, who will also continue his duties as Senior Vice President of Corporate Development.
The new business structure will be effective as of October 1st, 2001.
For further information, please contact
Mikael Lilius, President & CEO +358 10 452 9100
Carola Teir-Lehtinen, Corporate Communications +358 50 452 4118
Enclosure: New business structure