Stock exchange release

Tapio Kuula new President and CEO of Fortum Corporation

07 April 2009, 12:10 EEST

Fortum Corporation
Stock exchange release
7 April 2009 at 12:10 EET

Tapio Kuula new President and CEO of Fortum Corporation Tapio Kuula (51), member of Fortum Corporation's Management Team, has been appointed Fortum Corporation's President and CEO as of 1 May 2009. The appointment was made by Fortum's Board of Directors unanimously as a result of its comprehensive search process. The decision was made in the Board's ordinary meeting today 7 April 2009. ”As we were fully aware of Mikael Lilius' job agreement and the coming change of the President and CEO, successor selection process was initiated already last autumn. The search had proceeded to the point that the Board of Directors could unanimously decide the new President and CEO for Fortum,” says Matti Lehti, Deputy Chairman of Fortum's Board of Directors. “Fortum has great potential as a northern European power and heat company, especially as a provider of sustainable energy solutions. I know Fortum and its business well and I have actively participated in the company's strategy development. I believe this is a good starting point for me as the new President and CEO,” says Tapio Kuula. Tapio Kuula has worked at Fortum since 1996 and has been member of the Management Team since 1997. During the recent years, his responsibility areas have been Generation, Portfolio Management and Trading (PMT), Service and Russian operations, and during the past year, especially the integration of the Russian TGC-10. Prior to Fortum, Kuula has worked at forest industry and as President and CEO of various energy companies. He holds Master's degrees in engineering and economics. The current President and CEO Mikael Lilius will retire in December when he will reach the age of 60. Until his retirement, Mr Lilius will continue to work with assignments from the Board of Directors and Fortum Management Team with special focus on Russian operations. Fortum Corporation Maria Romantschuk SVP, Corporate Communications FURTHER INFORMATION - PRESS CONFERENCE AT 1 p.m. (Finnish time) A press conference (in Finnish) will be held in Fortum Corporation's head office in Keilaniementie 1, Espoo, today, 7 April 2009 at 1 p.m (Finnish time). The persons present at the press conference will be Matti Lehti and Tapio Kuula. Attachement: CV Tapio Kuula 1 May 2009- President and CEO, Fortum Corporation Employed by the company since 1996 Member of the company's management team since 1997 Born 1957 Education B.Sc. (Econ), University of Tampere, 1979 M.Sc. (Electrical Engineering), Tampere University of Technology, 1980 M.Sc. (Econ), University of Tampere, 1981 Dr.h.c., Lappeenranta University of Technology, 2008 Family Married, 3 children Previous positions 2000- President, Fortum Power and Heat Oy 2005-2009 Senior Vice President, Fortum Corporation - responsibilities: Generation, Power Portfolio Management and Trading, Service and Russia geographical responsibilities: Finland and Russia 2000-2005 President, Power and Heat Sector, Fortum Oyj 1999-2000 Senior Executive Vice President, Fortum Power and Heat Oy 1997-1998 Executive Vice President, member of the management team and the board, Imatran Voima Oy 1996-1997 Director, Distribution, Imatran Voima Oy 1995-1996 Deputy Managing Director, Länsivoima Oyj 1993-1996 Managing Director, Jyllinkosken Sähkö Oyj 1989-1993 Managing Director, Koillis-Pohjan Sähkö Oy 1988-1989 Managing Director, the Energy Utility of the City of Seinäjoki 1986-1988 System Development Manager, Stuart Edgar Ltd. (G A Serlachius) England 1984-1986 System Development Manager, G A Serlachius 1980-1984 Research Manager, Koillis-Pohjan Sähkö Oy Current positions of trust 2000- Teollisuuden Voima Oyj, chairman/vice chairman, now vice chairman 2008- OAO Territorial Generating Company 10, TGC-10, chairman of the board 2005- OAO Territorial Generating Company 1, TGC-1, member of the board, vice chairman of the board 2006-2007 2002- Varma Mutual Pension Insurance Company, member of the supervisory board 2005- National Board of Economic Defence, member of Energy Supply Sector 2000- Baltrel, Committee Member, chairman 2002-2005 2001- Fortum Foundation, vice chairman of the board Several earlier board positions within the energy sector in Finland, Sweden, Germany and Russia