Changes in UPM's Group Executive Team: Aki Temmes appointed Chief Financial Officer of UPM and Petri Hakanen Executive Vice President, UPM Fibres

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Oct 19, 2026, 08:19 ET

UPM-Kymmene Corporation Stock Exchange Release (Changes board/management/auditors) October 19, 2026 at 15:00 EEST

HELSINKI, Oct. 19, 2026 /PRNewswire/ -- Changes in UPM's Group Executive Team: Aki Temmes appointed Chief Financial Officer of UPM and Petri Hakanen Executive Vice President, UPM Fibres

Aki Temmes has been appointed Chief Financial Officer of UPM. He will continue as a member of UPM's Group Executive Team. Petri Hakanen has been appointed Executive Vice President, UPM Fibres. He will be a member of UPM's Group Executive Team. They will both report to Massimo Reynaudo, President and CEO. Both will assume their roles on January 1, 2027 and will be based in Helsinki, Finland.

Temmes, born in 1977, is currently Executive Vice President, UPM Fibres, a position he has held since December 2023. Prior to his current role, he worked as Senior Vice President, Business Control and Finance Operations. Since joining UPM in 2003, he has held several finance and business leadership positions. Temmes has Master of Science in Finance from Tampere University and Executive MBA from Hanken School of Economics. He is a Finnish citizen.

"Aki is exceptionally well qualified for the role of CFO. He has over 20 years of experience across finance, business control and business leadership roles at UPM, providing a strong combination of financial expertise, strategic insight and business acumen. He has also successfully led UPM Fibres for the past three years," says Massimo Reynaudo.

Temmes succeeds Tapio Korpeinen as Chief Financial Officer of UPM following Korpeinen's retirement from his position and the UPM Group Executive Team at the end of 2026.

Hakanen, born in 1967, is currently Senior Vice President, Fibres Finland Operations, a position he has held since October 2024. Prior to his current role, he was Senior Vice President, Technology (CTO), responsible for UPM's research and development activities and investment management. From 2018 to 2023, he led the Uruguay Development Project, overseeing the successful delivery and start-up of the UPM Paso de los Toros pulp mill in April 2023. Since joining UPM in 1991, he has also held several leadership positions in UPM Specialty Papers, UPM Communication Papers and UPM Fibres businesses. Hakanen has Master of Science in Industrial Management and Paper Technology from Helsinki University of Technology. He is a Finnish citizen.

"Petri has exceptionally strong credentials to lead the UPM Fibres business drawing on his experience and understanding of both the Fibres South and Fibres North businesses. During his more than three decades at UPM, Petri has built extensive expertise in operations, technology, business leadership and strategic transformations that will serve him well as he takes on this new responsibility," says Reynaudo.

Hakanen succeeds Aki Temmes who has been appointed Chief Financial Officer of UPM as of January 1, 2027.

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UPM is a material solutions company, renewing products and entire value chains with an extensive portfolio of renewable fibres, advanced materials, decarbonization solutions, and communication papers. Our performance in sustainability has been recognized by third parties, including EcoVadis and the Dow Jones Sustainability Indices. We operate globally and employ approximately 15,100 people worldwide, with annual sales of approximately €9.7 billion. Our shares are listed on Nasdaq Helsinki Ltd.

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