FORTUM CORPORATION STOCK EXCHANGE RELEASE 22 January 2015 at 13:30 EET
Tapio Kuula, President and CEO of Fortum Corporation, will go on a disability
pension starting 1 February 2015. His cancer has recurred and for this reason
it is not possible that he continues as the CEO of a listed company. Tapio
Kuula has been the President and CEO of Fortum Corporation since 2009.
"On behalf of the entire Board, I wish to express sincere thanks and deep
appreciation to Tapio for his excellent work at Fortum. During his 19 years
with Fortum, of which the last 6 years as the CEO, the company has developed to
become a major power and heat company in the Nordic countries and in the
neighbouring areas. I am happy that Tapio Kuula has accepted to be one of the
candidates proposed to be elected by the Annual General Meeting of Shareholders
to Fortum's Board of Directors for the coming term", says Sari Baldauf,
Chairman of the Board of Fortum Corporation.
Fortum's Board has started the search process for a new CEO covering internal
and external candidates. In the meanwhile Timo Karttinen, CFO of Fortum
Corporation, assumes responsibility for the duties of the President and CEO.
Senior Vice President, Corporate Communications
Sari Baldauf, Chairman of the Board, Fortum Corporation
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NASDAQ OMX Helsinki
Fortum’s purpose is to create energy that improves life for present and future
generations. Catering to the versatile needs of our customers, we generate,
distribute and sell electricity and heat, and offer related expert services.
Our operations focus on the Nordic and Baltic countries, Russia and Poland. In
2013, Fortum’s sales totaled EUR 6.1 billion and comparable operating profit
was EUR 1.6 billion. We employ approximately 8,800 people. Fortum’s shares are
traded on the NASDAQ OMX Helsinki. www.fortum.com.