FINLAND – UPM-Kymmene has appointed Massimo Reynaudo as its new CEO, taking over from Jussi Pesonen on January 1, 2024.
Jussi Pesonen will continue as the President and CEO until December 31, 2023. After that, he will serve as an advisor to the company and its management until his retirement from UPM on April 30, 2024.
Mr. Reynaudo has been with UPM since 2017. He is currently the Executive Vice President of UPM Communication Papers.
Prior to that, he served as the Senior Vice President of UPM Raflatac from 2017 to 2021. Earlier in his career, he held several senior positions at Kimberly-Clark Corporation.
He holds a master’s degree in engineering from Politecnico di Torino. In addition, he has also studied business administration and management.
Henrik Ehrnrooth, Chair of the Board of UPM, stated, “Massimo has an excellent international background and a very solid track record at UPM as an engaging change leader.
“He has a clear vision of how to continue creating value through UPM’s Biofore strategy. I wish Massimo the best of success in his new demanding role.”
Commenting on his appointment, Reynaudo said, “I am deeply honoured by appointment. UPM has a good operating model and very committed employees. Together we will continue to implement our strategy and create a future beyond fossil fuels.”
With Mr. Reynaudo assuming the role of President and CEO, UPM will commence the process of selecting an Executive Vice President for Communication Papers.
Stora Enso appoints Ad Smit as EVP of Packaging Solutions division
Meanwhile, Stora Enso has appointed Ad Smit as the Executive Vice President of the Packaging Solutions division and a member of the Group Leadership Team.
He will start on December 1, 2023, and report to Hans Sohlström, President and CEO of Stora Enso.
Ad Smit has been leading the Business Unit Western Europe within Stora Enso’s Packaging Solutions division since January 2023.
He has over 30 years of experience in business leadership in the packaging industry. From 2012, Ad was the CEO of De Jong Packaging Group, which was acquired by Stora Enso in January 2023.
Prior to that, he held various Managing Director positions, leading packaging divisions and units at Smurfit Kappa Group for over 20 years.
David Ekberg will be leaving his position as Executive Vice President of the Packaging Solutions division on November 30, 2023, in order to explore new opportunities outside of Stora Enso.
Mr. Sohlström said, “On behalf of Stora Enso and the group leadership team, I sincerely thank David Ekberg for his leadership and achievements during the past years.
“During his tenure, Stora Enso has experienced significant growth and has strengthened its Packaging Solution business. We wish David all the best for his future endeavors.”
