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.




Corporate Communications




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