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Currently, the Board of Directors has no unused
authorisations from the Annual General Meeting of Shareholders to issue convertible loans or bonds with warrants or to issue new shares. Currently, the Board of Directors has an authorisation from the Annual General Meeting of Shareholders on 28 March 2007 to buy Fortum Corporation’s own shares. The authorisation, amounting to EUR 300 million or 20 million shares, is valid until the next Annual General Meeting. The shares repurchased by Fortum shall be cancelled through a separate decision made by the Board of Directors of Fortum. Group personnel The average number of employees in the Group during the period from January to June was 8,257 (9,024). The number of employees at the end of the period was 8,541 (9,605). Appointments in Fortum Management In June, Fortum announced changes in the management. The changes will become effective on September 1st. Fortum Management Team (FMT): Maria Paatero-Kaarnakari, currently VP Corporate Development, will become SVP, Corporate Strategy. The position is new and prompted by the strategic opportunities and challenges facing Fortum going forward. Maria Romantschuk, currently Head of Press Relations at the office of The President of Finland, will become SVP, Corporate Communications. The current position holder, Carola Teir-Lehtinen, will move to a new position. Both SVPs will report to the President and CEO Mikael Lilius. Also four out of Fortum’s seven Business Units will have a new head: Matti Ruotsala, currently VP, AGCO Corporation and Managing Director of Valtra Inc, will become President of Fortum Generation. Per Langer, currently head of the Portfolio Management and Trading (PMT) unit, will become President of Fortum Heat. Kalle Ahlstedt, currently VP Physical Portfolio Management, will become President of Fortum PMT. Markku Vauhkonen, who has a long international career within the TetraLaval Group, will become President of Fortum Service. Corporate Staff Units: Carola Teir-Lehtinen, currently SVP Corporate Communications, will become Corporate VP, Sustainable Development. The position is new and prompted by Fortum’s desire to making sustainability, especially the climate issue, a success factor for the company. She will continue to report to Mikael Lilius. Arja Koski, currently Corporate VP Environment, Health and Safety, will become VP Renewables in the Generation business unit. The position is new and prompted by Fortum’s desire to further increase the share of renewable energy sources in its generation portfolio. |
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| Last reviewed 5.7.2007 |