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Stock exchange release

Changes in Fortum’s Executive Management and organisation structure

08 February 2017, 08:30 EET

FORTUM CORPORATION STOCK EXCHANGE RELEASE 8 February 2017 08:30 EET

FORTUM CORPORATION STOCK EXCHANGE  RELEASE 8 February 2017 08:30 EET

Chief Financial Officer (CFO) Timo Karttinen has asked to step down from Fortum’s Executive Management through internal job rotation. He will continue working on Fortum’s strategic growth projects. Following Mr. Karttinen's resignation from his CFO duties, Mr. Markus Rauramo, Executive Vice President, City Solutions has been appointed Chief Financial Officer of the company as of 1 March 2017.

As of 1 March 2017, City Solutions will be divided into two divisions, City Solutions and Consumer Solutions. City Solutions will comprise heating and cooling, waste-to-energy, biomass and other circular economy solutions. Consumer Solutions will comprise electricity sales, as well as certain consumer business related parts of the current Technology and New Ventures unit.

Mr. Per Langer has been appointed Executive Vice President, City Solutions as of 1 March 2017. Currently Mr. Langer is Senior Vice President, Technology and New Ventures.

The search for an Executive Vice President, Consumer Solutions is ongoing.

Both Executive Vice Presidents will be members of Fortum’s Executive Management and report to President and CEO Mr. Pekka Lundmark.

Implications on Fortum’s segment reporting will be published before the company’s first quarter 2017 results.

Fortum Corporation

Sophie Jolly, Vice President, Investor Relations and Financial Communications

Additional information:

Pekka Lundmark, President and CEO
Call-back requests tel. +358 10 452 4112

Distribution:

Nasdaq Helsinki
Key media
www.fortum.com

Fortum
Fortum is a leading clean-energy company that provides its customers with electricity, heating and cooling as well as smart solutions to improve resource efficiency. We want to engage our customers and society to join the change for a cleaner world. We employ some 8,000 professionals in the Nordic and Baltic countries, Russia, Poland and India, and 62% of our electricity generation is CO2 free. In 2016, our sales were EUR 3.6 billion. Fortum's share is listed on Nasdaq Helsinki.
www.fortum.com