Fortum Corporation names Pekka Lundmark President and CEO

HELSINKI, 7-4-2015 — /EuropaWire/ — Pekka Lundmark, M.Sc. (Eng.), 51, has been appointed President and CEO of Fortum Corporation. He will start at Fortum in the beginning of September 2015, and will transfer from Konecranes Plc, where he has been President and CEO for the past ten years. Previously he has been President and CEO of Hackman Oyj Abp in 2002 – 2004 and has held various executive positions at Nokia Corporation in 1990 – 2000.

“Fortum will continue to implement its strategy and is ready to take growth steps in its core competence areas: hydro power, nuclear power and combined heat and power generation. We will also develop electricity sales business and related services for consumers. Geographically, we are mainly focusing on our current home markets, and additionally, we are assessing opportunities in the EU’s integrating energy markets. We will pursue interesting opportunities to take part in the construction of power plants, but, more likely is that a significant part of our growth in the upcoming years will come through energy sector restructuring processes and mergers and acquisitions,” says SariBaldauf, Chairman of Fortum’s Board of Directors.

“Pekka Lundmark has wide-ranging management experience and a strong track record in the successful development of international business. In the selection process, we were impressed by his capability to both clearly conceptualize and implement strategy, and his experience in mergers and acquisitions. In addition, his leadership skills and his experience as a CEO of a prominent publicly listed company were emphasised. The Board of Directors believes that the cooperation of Pekka Lundmark and Fortum’s Executive
Management, which has excellent and wide-ranging experience of the energy sector, will position the company as a strong energy sector leader for the future,” Baldauf continues.

“The energy sector is going through a very interesting transition period. It is also in many ways in the heart of the development of modern society. I am strongly committed to continue Fortum’s work to increase the generation of CO2-free energy. Fortum’s exceptionally strong balance sheet provides good premises for future investments in growth, clean energy and the development of new services. I am enthusiastically looking forward to start working with Fortum’s skilled personnel and management team,” says Pekka Lundmark, Fortum’s future President and CEO.

For more information, please contact:
Pekka Lundmark, future President and CEO, Fortum Corporation
Sari Baldauf, Chairman of the Board, Fortum Corporation
Call back requests: Gun Wangel, Executive Assistant, tel. +358 50 452 4121

Fortum Corporation
Helena Aatinen
Senior Vice President, Corporate Communications, tel. +358 10 45 20480

Communications contact also:
Fortum Media Desk +358 40 198 2843

Analysts and investors:
Sophie Jolly, Vice President, Investor Relations, tel. +358 10 45 32552

Nasdaq Helsinki
Key media

CV – Pekka Lundmark
Born 1963
Nationality: Finnish
Master of Science (Eng.), Helsinki University of Technology, Department of
Technical Physics, 1988
Married, three children

Professional experience

Konecranes Plc, President and CEO, June 2005 –
Konecranes is a world-leading group of Lifting Businesses(TM), serving a broad range of customers, including manufacturing industries, steel mills, paper and pulp industry, power plants, shipyards, ports and terminals. Konecranes improves the safety and productivity of customers’ operations with a wide range
of lifting solutions and services. In 2014, the Group sales totalled EUR 2,011 million. The Group has 12,000 employees at 600 locations in 48 countries. Konecranes is listed on Nasdaq Helsinki (symbol: KCR1V).

Konecranes Plc, Group Executive Vice President, 2004 – 2005

Hackmann Oyj Abp, President and CEO, 2002 – 2004

Startupfactory Oy, Managing Partner, 2000 – 2002

Nokia Corporation, various executive positions, 1990 – 2000

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
2014, Fortum’s sales totalled EUR 4.75 billion and comparable operating profit was EUR 1.35 billion. We employ approximately 8,800 people. Fortum’s shares are traded on the Nasdaq Helsinki.


Fortum Corporation names Pekka Lundmark President and CEO

Fortum Corporation names Pekka Lundmark President and CEO

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